Massive Aqua Increase

PinkyUnd

Hi guys,

So, I've got a terrible credit rating but a few months ago, I tried to get a credit card, being in a much better financial position and was accepted for an aqua start credit card. It was only a low limit of £100 but it was great to have a start.

For three months, I paid the majority of the balance off, leaving a little on each month. However, after three months, I was offered (and accepted) an increase to £1100. I've had a little read online and found people offered £500 or a little above but to be raised by £1000 seems massive.

Wondered if anyone knows why or if anyone else has had similar experience?

Thanks.

Pinky

Nasqueron

Leaving money on the card and paying interest on it is good for them (though bad for you) so maybe they just want to encourage you to pay them more interest

onthefencepost

I was raised from £950 to £2000

Ben8282

Having demonstrated an inability to pay in full each month a credit card with a £100 credit limit and given them lots of interest, no doubt they are thinking about all the extra interest that they will be getting from you especially as you implied that your financial situation has deteriorated since taking out the card,

PinkyUnd

Deteriorated? No, I haven't had any problems. I've only left some behind on the card as I read that may help to improve my credit rating.

molerat

PinkyUnd wrote: »

Deteriorated? No, I haven't had any problems. I've only left some behind on the card as I read that may help to improve my credit rating.

You need to change your reading sources. Pay it off in full every month, if not you start paying interest on every purchase as soon as you buy it.

A4445

Aqua start rates are between 49.9 and 69.9% these are crazy rates running a balance at these rates will cost you a fortune. You don't need to pay interest to improve your credit paying in full does the job just as well

onthefencepost

This thread got my curious, I rang them up shortly after my post. They carried out a soft search and increased my limit from £2000 to £3000.

mwarby

PinkyUnd wrote: »

Hi guys,

So, I've got a terrible credit rating but a few months ago, I tried to get a credit card, being in a much better financial position and was accepted for an aqua start credit card. It was only a low limit of £100 but it was great to have a start.

For three months, I paid the majority of the balance off, leaving a little on each month. However, after three months, I was offered (and accepted) an increase to £1100. I've had a little read online and found people offered £500 or a little above but to be raised by £1000 seems massive.

Wondered if anyone knows why or if anyone else has had similar experience?

Thanks.

Pinky

I went from 300 to 1000 in 4 months, but this was with fairly low usage and no balance being carried (so low or no profit)

PeacefulWaters

Stop paying interest !!!!!!.

~Beanie~

My Aqua card has been increased to £6,400. Not there there is a balance on it and I would never dream of using that much. It's steadily increased from the initial £250 over the last 2 years.