Aqua limit increase

smipsy

Hi everyone,

I have an Aqua card with a £450 limit on it, and an ASDA card with a £3000 limit on it. I use them for cashback purposes only, plus the Aqua one for abroad (because there's no non-sterling fee).

However, ASDA is dropping their cashback rate now, rendering it effectively useless (for the most part) unless I'm shopping at ASDA (which I rarely do).

I have both cards since December (therefore I've only had 4 statements up so far). Would closing down the ASDA card make Aqua more likely to go up in limit?

I don't need £3000, but I do need more than £450, simply because I have some big purchases coming up soon (such as my very first car insurance, £900 to £1000, freaking shoot me now :eek:), so I'd like to keep getting that sweet 0.5% cashback on everything

I always pay in full via DD.

I've heard bad stories about people calling up Aqua to request an increase, so I'd rather not do that, and let them offer the increase instead!

Thanks for any insight guys, I really appreciate it!

A4445

I would leave the limits as they are. Closing the ASDA card is unlikely to have any impact on the Aqua card. I don’t think aqua increase until you’ve been with them at least 6 months. There are other cashback cards out there shop around to find the best one! I use Natwest reward and a Amex Card for cashback.

Anthorn

Confusing: You don't provide any information at all on the Aqua credit card nor the Asda credit card.

You are proposing ditching the Asda Card at 19.9% APR and increasing the limit on the Aqua Reward card at 34.9% APR? You are paying in full so APR is irrelevant but even so it's a consideration if at some point you cannot afford to repay in full.

Anyway, ditching the Asda card is unlikely to improve your chances of a limit increase with Aqua simply because Aqua are unlikely to know about it. Aqua do keep an eye on credit history updates which are provided by CRAs in the first year of the account but Aqua mainly considers defaults and missed payments. They do in fact infer this in their blurb.

Lastly, Aqua don't consider requests from existing cardholders and just provide what they think you should have. But they won't penalise you if you ask, they will just provide information on why they haven't yet given it to you.

stevenhp1987

Anthorn wrote: »

Lastly, Aqua don't consider requests from existing cardholders and just provide what they think you should have. But they won't penalise you if you ask, they will just provide information on why they haven't yet given it to you.

Not 100% accurate.

I've had Aqua raise my limit from £3,200 to £4,200 after a phone call a couple of years ago (I was going abroad and renting a car for the first time, so wanted a higher limit in-case they block out $$$ and Aqua is foreign-free if they went to charge anything).

It's my lowest limit card, I don't need it increased anymore (barely use it, only large international purchases). I found that Aqua give you a lowish limit to beginning with (regardless of credit history) and raise every 4 months until ~ £3k limit. This may be different for other people, but this was the same for my and my wife (both using only for international purchases).

I don't expect Aqua to up your limit if you request after 4 months and they certainly won't care if you close your other card - it makes little difference.

Personally, I'd keep both open, use both; this will help you build a credit history.

Anthorn

stevenhp1987 wrote: »

Not 100% accurate.

I've had Aqua raise my limit from £3,200 to £4,200 after a phone call a couple of years ago (I was going abroad and renting a car for the first time, so wanted a higher limit in-case they block out $$$ and Aqua is foreign-free if they went to charge anything).

There's always one isn't there!

My appraisal is based on my own personal experience over a period of seven years of an Aqua Advance credit card which started at 35.9% APR and was at 19.9% APR when I closed it. On the last occasion I asked for something it was an Aqua Gold Card. They replied, "If we think we can give you one we'll give it to you. There is no need to ask for it".

I could have gone further and stated how I got my Aqua credit limit increased to £7,500 but everyone who have never had an Aqua card disagrees with my tactics so I won't bother!

Lastly Aqua and New Day are excellent and I personally have nothing bad to say about them. I closed mine simply because I moved on to bigger and better prime cards.

smipsy

okay, I'll just leave them as they are, considering I'm too new with my credit history! (never had any cards until last December).

if I have purchases that I can't put on the Aqua card, I'll just put them on the ASDA card, and just accept 0.2% instead of 0.5%, hahaha

I know there's an AMEX as well, but I applied to AMEX in December as well, but I didn't get an instant acceptance, and then a letter with "sorry, but not" few days later. As I checked ClearScore afterwards, I realised they ran a credit check there, and ClearScore didn't have any electoral data for me, hence my score being pretty much nothing. They sorted it out later, but I don't want to apply for AMEX yet again, since I'm sure they could easily decline me again because it's only recent.

So you've helped me reach a solution, which is just keeping both cards, and repay them in full as I have done, and that's it! A bit of cashback loss won't be the end of the world!

Thanks everyone!

[Deleted User]

Anthorn wrote: »

You are proposing ditching the Asda Card at 19.9% APR and increasing the limit on the Aqua Reward card at 34.9% APR? You are paying in full so APR is irrelevant but even so it's a consideration if at some point you cannot afford to repay in full.

Completely agree, unless OP has got significant cash savings or a very large income I'd want at least one lower limit card, just incase.

Anthorn wrote: »

Lastly, Aqua don't consider requests from existing cardholders and just provide what they think you should have. But they won't penalise you if you ask, they will just provide information on why they haven't yet given it to you.

They will do if you email them through their website now. There isn't an option, but just put it as a payment query or something.

Got my Aqua Card in November 2016, £900. Requested an increase a few months later and got promptly told to go away *until I'd been with them 6 months*

Asked for £1,750 in May 2017. £1,950 granted 2 days later.

Applied for £2,500 a few months later and got told to wait until 6m after last increase.

Requested again End of Nov 2017, declined with the following - will try again in May/June 2018 (subject to my lower credit card balances being reported to CRAs)

Thanks for your email dated xx November 2017 regarding credit limit increase of your aqua account (postcode ending XXX)

NewDay is a responsible lender and any credit limit given is based on a customer!!!8217;s individual circumstances, account spending patterns, card usage and payment history.

This information is used, together with information from credit reference agencies about other credit facilities you have, to make sure that we give you a credit limit that is appropriate for you.

At this time, based on the information that we have, we are unable to increase your credit limit.

You may ask us again for a credit limit increase in six months!!!8217; time and we will consider your request then, based on the information that we have.

So OP - I'd ask for a limit increase 6 months after account opening, but as said unless you have many other cards, I wouldn't close either one.

Edit: They do also have a automated increase program of course, but I doubt I'll ever qualify quicker than I can request!

[Deleted User]

You won't get a limit on one card because you've !!!8220;freed up a limit!!!8221; on another.

Also when chekcing your credit files ignore the scores

Wizardy18

Aqua (NewDay) do in fact allow increases by request, by phone or message.

So in light of this, no posts are correct saying they don't or only by email.

They will review the account while on the phone, and you'll either the told yes or no.
I believe they search the account conduct and possible a soft search too.

maxximus75

Just send them an online message when you log into your account and ask them to consider a credit increase.

I did this a couple of months ago and they did an increase the next day.

I then got an email the following day telling me what they had done.

Or, give them a call.