Aqua - Payment Requested and Contractual minimum payment...

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  • Willing2Learn
    Willing2Learn Posts: 6,294 Forumite
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    w3w3w3 wrote: »
    I am mainly using this for the odd money i need here and there, and to also use a LOT, and pay back to improve my credit score.

    Tip: Only spend on stuff that you normally spend out of your typical monthly budget. Stuff such as groceries and travel costs. That way you know all your spending is affordable.


    Tip #2: Set up a Direct Debit to pay the full balance each month. That way, you are guaranteed to pay zero interest. :)
    I work within the voluntary sector, supporting vulnerable people to rebuild their lives.

    I love my job

    :smiley:
  • w3w3w3
    w3w3w3 Posts: 18 Forumite
    edited 17 May 2019 at 11:02PM
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    Deleted_User wrote: »
    If you're taking out cash on the card and not clearing in full, lenders will view you as higher risk.

    Only spend what you can afford to repay in full and never take out cash.


    Oh really? I did not know this? So taking out cash is a big NO then. Dam. Will this effect me much, if when i get paid on the 6th i pay in full, and never take cash out again? :(
  • w3w3w3
    w3w3w3 Posts: 18 Forumite
    edited 17 May 2019 at 11:03PM
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    Deleted_User wrote: »
    If you're taking out cash on the card and not clearing in full, lenders will view you as higher risk.

    Only spend what you can afford to repay in full and never take out cash.
    Willing2Learn wrote: »
    Tip: Only spend on stuff that you normally spend out of your typical monthly budget. Stuff such as groceries and travel costs. That way you know all your spending is affordable.


    Tip #2: Set up a Direct Debit to pay the full balance each month. That way, you are guaranteed to pay zero interest. :)


    Yea thanks! I did intend to do this.. i paid £250 off in the month, then used it again..(a lot was cash withdrawls tbh, not all... i thought they would like getting £3 off me each time?) then got asked to pay the £5 payment requested and paid that. Once i get paid, i just wanna pay it off, and use it better, i don't wanna damage a credit score, that i have only just got TBH. Last month, i would not even come up on credit reports, and this is my first credit card. I got accepted for a argos card today as well, which i don't plan on using, but hopefully that will add to my report, that other lenders trust me?
  • [Deleted User]
    [Deleted User] Posts: 35,242 Forumite
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    w3w3w3 wrote: »
    , i don't wanna damage a credit score, that i have only just got TBH.

    It's not your score that it will damage. That's just a number that the CRAs make up - it doesn't mean anything and isn't used by lenders.

    It's how lenders will see you that matters.

    Having the Argos card and not using it won't help. You need to show lenders you can manage credit it. Use both cards at least occasionally and clear in full each month.
  • w3w3w3
    w3w3w3 Posts: 18 Forumite
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    Deleted_User wrote: »
    If you're taking out cash on the card and not clearing in full, lenders will view you as higher risk.

    Only spend what you can afford to repay in full and never take out cash.
    Willing2Learn wrote: »
    Tip: Only spend on stuff that you normally spend out of your typical monthly budget. Stuff such as groceries and travel costs. That way you know all your spending is affordable.


    Tip #2: Set up a Direct Debit to pay the full balance each month. That way, you are guaranteed to pay zero interest. :)
    Deleted_User wrote: »
    It's not your score that it will damage. That's just a number that the CRAs make up - it doesn't mean anything and isn't used by lenders.

    It's how lenders will see you that matters.

    Having the Argos card and not using it won't help. You need to show lenders you can manage credit it. Use both cards at least occasionally and clear in full each month.


    Yep thanks! I plan on using the Aqua card for my normal day to day things i would with bank card, and pay in full each month, i just messed it up a lil this month. I hope i am still all good and for the future and this has not effected me. No more cash withdrawls for me. :beer:
  • Frugal88
    Frugal88 Posts: 1 Newbie
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    w3w3w3 wrote: »
    Yep thanks! I plan on using the Aqua card for my normal day to day things i would with bank card, and pay in full each month, i just messed it up a lil this month. I hope i am still all good and for the future and this has not effected me. No more cash withdrawls for me. :beer:

    Understand I'm somewhat late to the party but just a heads up regarding Aqua and what possibly could be a slight confusion with payments.

    1. Payment Requested (Suggested additional payment)
    2. Statement Date
    3. Payment Due Date

    From past experience Aqua (online/App) will show £5.00 Requested Payment and £0.00 Contractual Agreement Amount, if the statement hasn't been released.

    It's important to note that any payments made before the statement date will not contribute to the contractual agreement amount, this is just a somewhat top up payment. Anything paid after the Statement Release Date and before the Due Date will contribute to the contractual agreement amount.

    It seems you may have paid the "top up payment" but not necessarily towards the statement as this hadn't been released.

    Hope all is well!
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