AQUA card. Please help

toots79xo

Hi everyone!
Been working really hard to improve my credit score post bankruptcy (5yrs).

I have a credit card quite a few years now which limit was £1,500. I clear the limit before the end of every month.
After an expensive Christmas they reduced the limit to £1000. They said it would return to normal balance soon but was based on my credit score which was at the high end of fair.
My credit score has continued to reduce. I found out that the credit score is no longer being assessed at the start of every month but now a couple weeks into the month! Plus, you are apparently only to use 25% of your credit limit!!! I now have a poor credit score again

Has anyone else found this? Any advice? Its a bit disheartening when no matter the limit I clear it at the end of the month!

Many thanks for any help

Willing2Learn

Ignore your credit score as Aqua neither see nor use it. Aqua will score you against their own independent criteria and policies using the data they hold on you, added to the data held in your credit file(s).

Are there any negative markers on your credit files?
Are you on the Electoral Register at your current address?
Have you recently moved address?

[Deleted User]

Ignore the score and the references to utilisation - only you see these and lenders do not care about it.

Are you paying the card off in full each month?

toots79xo

I am using over 25% credit?
I am on the electoral role and I haven’t moved house.
Thank you

toots79xo

I am clearing the amount in full before the end of each month without fail! 😩

[Deleted User]

OK - then you have nothing to worry about - assuming you're clearing the statement balance?

[Deleted User]

toots79xo wrote: »

I am clearing the amount in full before the end of each month without fail! ��

Doesn't seem you have anything to worry about.

Consider getting another card or two as backup, but otherwise, keep doing as you're doing.

Using over 25% on low limit card isn't a negative if you're clearing in full. Just stay under the limit.

phillw

toots79xo wrote: »

Any advice?

Sign up to noddle, clearscore and the mse credit club. Check the details are all correct & that you show on the electoral roll, pick the score that makes you happiest (or ignore them all if it helps), keep paying your bill at the end of every month and think before you spend any money.

toots79xo

yes i am...but why have they reduced my limit and is this what is affecting my score? thank you

[Deleted User]

NewDay often do wholesale reductions, as their risk management is tight. You've not done anything wrong.

The weather is affecting your score. Ignore it. Experian do not make lending decisions and do not reflect lender criteria in their numbers. Your score would also have dropped if your limit had increased.

Nullboris

If its the same aqua card as I have , I have gone from clearing it at the end of every month to using it less and trying to pay off after every payment (use) . No matter how quickly I pay I still seem to attract interest. Rate is back @30% .Need a new card ...
They did increase my limit gradually to £4500 tho ..