Aqua credit card

Ak92

Hello, I am trying to increase my credit score by getting myself a credit card. I have a 100% eligibility for the Aqua CC 4 months 0%. I have not had a cc before but have done my research on the matter. Before I apply, can I just use the card for something as simple as petrol? And then PAY IN FULL when I need to? Or just set up a DD each month? So that's about £100 a month. This sound good?

Thanks

PeacefulWaters

Ak92 wrote: »

Hello, I am trying to increase my credit score by getting myself a credit card.

Ignore the score. Focus on the other stuff on your credit report such as being registered to vote and paying stuff on time.

I have a 100% eligibility for the Aqua CC 4 months 0%. I have not had a cc before but have done my research on the matter. Before I apply, can I just use the card for something as simple as petrol? And then PAY IN FULL when I need to?

Yes. Sensible.

Or just set up a DD each month? So that's about £100 a month. This sound good?

Thanks

I'd expect you to be able to set up a DD to pay in full too.

pcman1985

Yes.
You should be able to have a direct debit set up to take the payment in full every month.
You wouldn't even need to spend £100 if you didn't want to. £20 of petrol for the car would work just as well, as long as always paid off on time and in full.
Ignore any score given to you by the credit agencies. Just focus on the history.

suki1964

My aqua card arrived today

Its a cash back one to be used for petrol and groceries

first thing I done, before I even activated it was to set myself up with an online account and the app for my phone and set up a direct debit for payment in full every month

Ak92

Thanks for your replies and pointers. Really appreciated and I now have a better understanding. Will apply for it now.

Ak92

Oh a quick one, the 4 month period. Does that mean after 4 months I will need to apply for another card? Or is it I buy something today 03/04/18 I have until 03/08/18 to pay back, if I pay it back before this date and buy something else, say on 03/06/18 i then have till 03/10/18 to pay back? Sorry if that's confusing

[Deleted User]

No. Your purchases promo will end four months after account opening.

After that, ensure you pay off your balance in full each month. In fact, pay it off in full right from the start.

Ak92

So I will be paying it off in full each month 100%. So I won't be charged if I pay back each month when I am suppose to, will I?

[Deleted User]

Correct. .

suki1964

Ak92 wrote: »

So I will be paying it off in full each month 100%. So I won't be charged if I pay back each month when I am suppose to, will I?

Do you have online banking for your currant account?

See I have this fantastic little app for my bank account. When I use my debit card to shop or withdraw cash, it shows me where the money has gone so I can keep a close eye on my spends and can account for every single penny. So I know I spent £80 on petrol last month and £130 in lidl and £7 at the cinema etc. So once I start using the credit card for lidl and petrol, so as I know where my money is going daily from my currant account, I intend to transfer every spend over at the end of the day so I don't spend twice nor miss my payment date

I haven't had a credit card in years because the last time I did, I got into trouble with double spending. Ive not had debt in 20 years and I don't intend to get myself in a mess again

Ak92

Yes I do have online banking, I also have an app like that called spendlytics through Santander. Does pretty much what you described.

My aim is to increase my credit rating so that when it eventually comes to the point of me applying for a mortgage, I will seem like a 'reliable borrower.

Thanks for your advice and long may you be debt free