Aqua latest increase!

Dandytf

My luck continues today
My controversial 2nd Aqua card limit has been raised today by post
2.1k to 2.850k

p.s. I did enjoy the 1st limit raise as I type this from my i3 Kabey Lake laptop

I'll enjoy decreasing balances as recently mentioned -whilst hopefuly working towards nice clean cra reports over next few years.

[Deleted User]

Kaby Lake? The nearly 2 generation old Intel processor!?

Anyway you’re crazy carrying a balance on cards with such a high APR.

A4445

Dandytf wrote: »

My luck continues today
My controversial 2nd Aqua card limit has been raised today by post
2.1k to 2.850k

p.s. I did enjoy the 1st limit raise as I type this from my i3 Kabey Lake laptop

I'll enjoy decreasing balances as recently mentioned -whilst hopefuly working towards nice clean cra reports over next few years.

They are probably increasing to try and make more money from you! :rotfl:

Dandytf

A4445 wrote: »

They are probably increasing to try and make more money from you! :rotfl:

Sensible reply thannks
My 1.4 k balance on one of 2 cards is proving to be time consuming to reduce.
Though I've allowed myself up-to 3 yrs.
I like successful company's making a profit though maybe not in mse terms

McWedge

I'm not sure why these credit limit increases are such a cause for celebration for you. If a credit limit increase (especially on a card with as high an APR as Aqua) allows you to buy a new laptop, and you're giving yourself three years to clear the balance, then you're either living outside your means or getting a kick from giving a huge chunk of disposable income to Aqua for no real reason.

redux

I'm also concerned when I read this thread. Having a plan to pay off old cards at possibly zero interest is fine, but borrowing more and more on this high interest card to help find cashflow isn't efficient.

Bear in mind that any balance that stays there with 26% interest will double in 3 years, and Aqua is higher rate than that, so nearer 2 years to double.

Review spending with a view to paring it down, don't celebrate chances to increase it. Would some unrepeatable buying opportunity really be a bargain at twice the price?

I got my Aqua Reward card mainly for purchases abroad. They wrote to me after 4 months and said if I didn't use it they would close it. I said I'm still waiting for the PIN. After 2 increases in the first year the credit limit was £3450. Highest ever balance about £1800, for 4 trips abroad in 6 weeks. The current balance is about £16, for 4 beers in the last 3 weeks, just to keep it ticking over.

Dandytf

!!! wrote: »

Kaby Lake? The nearly 2 generation old Intel processor!?

Anyway you’re crazy carrying a balance on cards with such a high APR.

7th Gen cpu I chose i3 as that is nice for a few years.
with some upgrade path during 2019 -carefully watching +4GB ram in addition to current 4GB -interesting to know if the £70 cost will increase or decrease next year.
Existing 128gb ssd could be a future upgrade though I don't see any short term need to increase storage for some time.

Dandytf

McWedge wrote: »

I'm not sure why these credit limit increases are such a cause for celebration for you. If a credit limit increase (especially on a card with as high an APR as Aqua) allows you to buy a new laptop, and you're giving yourself three years to clear the balance, then you're either living outside your means or getting a kick from giving a huge chunk of disposable income to Aqua for no real reason.

Quite possibly it is challenging since changing to part time for past year -though not offered as any excuse.
The mentioned 3 year balance reduction is across a few cards -most of which are <1K -others are+1k

I'm not restricted to any timescale at all I just think 3 years to seriously reduce particularly the highest balance is quite possibly achievable.

It's quite possible within 2 years I could have a small sum from savings though I much prefer to run those as long in term as possible.

Thanks mser's I don't dare disagree though I don't mind some interest.

tastyhog

8It's really quite concerning that you're crowing about credit limit increases whilst barely being able to meet minimum payments on your cards, and talking about taking months to pay off a credit card with a £250 limit and almost maxing out limits on other cards.

You seem to be robbing Peter to pay Paul so you can crow about how well you're paying off your DMP but simultaneously building up further balances on your new cards. You haven't paid down 60% of your DMP if you've put thousands of spending on additional cards, which you're barely able to cover minimum payments for.

You're clearly going to be in for a rude awakening since this new legislation was Brough in that fires higher minimum payments for those that are carrying balances for years.

Also going on your sig, why are you trying to save when you can't even clear the last £50 on a credit card?

You seem to need to take a step back and take a look at your finances as a whole.

Dandytf

@tastyhog

No shock higher min payments have already started by myself for a while at least
The enforced ones are only just beginning , I'm not alone when you read the uk as a whole are almost at GFC status in debt.

What was your concern about c+ £50 final payment, is it as I have min DD setup with one off payment to make when my wages arrive.

I have exceeded 50% on some cards -wouldn't call it almost maxing a such

60% approx of the mentioned dmp total 2012 is paid.

Quite happy to continue to make regular CC payments.

Savings are what they are -saving small cash sums from wages.

As I mentioned whilst I enjoy mse I don't follow all advice -I prefer to choose which pieces of info I can use.