Aqua Credit Card

edited 30 November -1 at 1:00AM in Credit Cards
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[Deleted User][Deleted User] Forumite
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edited 30 November -1 at 1:00AM in Credit Cards
Good afternoon,
I’m just after some advice regarding my Aqua Credit Card, I have a balance on £2100 on it, last month (June) my minimum payment was £82 I paid £100. This month my minimum payment is £87.
I thought if I was paying over the minimum then I would have to pay less the next time?
Also the interest on my account has gone up from last month to this month but I have not even used the card, I am only paying it off.
Is this correct?


  • zx81zx81 Forumite
    32.6K Posts
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    If the rate has gone up, that would explain the higher minimum payment.

    Interest is calculated on your daily balance.
  • mrmajikamrmajika Forumite
    958 Posts
    Part of the Furniture 500 Posts Photogenic Combo Breaker
    I think it'll depend on when those purchases were made.

    For example, if I spend £1000 on my card in one month, then there's up to 56 days (ish) to pay it off in full and avoid interest,

    Month 2: If I've only made the minimum payment on that £1000 from month then I'll get charged interest on the remainder of the balance. Any new spend for month 2, i'll have up to the statement date to again pay it all off.

    By month 3 interest is getting charged on the whole lot again.

    I hope that makes sense?? Basically, any purchases in the month are interest free until the next statement.

    I think that's what's happening anyway!

    According to the Aqua website, the minimum payment is "An amount equal to the sum of interest, default fees plus either 1%, 2%, 2.5%, 2.75% or 3.25% of the full amount you owe, as shown on your statement (minimum £5)."
    Whilst my posts do not constitute financial advice, I am always, without fail, 100% right! :D
  • Terry_TowellingTerry_Towelling Forumite
    2.3K Posts
    1,000 Posts Second Anniversary Name Dropper
    Were there any purchases showing on your statement last month? If so, how much were they?
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