Aqua card?

[BerryKerry76]

Is anyone on here with aqua card? 💴
I have a few questions if anyone could take time to answer?

1. Did it make your credit score increase?
2. What was your first limit they offered you
3. Are they a good company? Or do you regret using them?

I have applied and got accepted for a card but they didn't tell me what my limit was, I suppose I'll find out when my card comes? I've only took it out to build my score up. Also, with a credit score is it possible to make it better than it is with a credit card so you get accepted for more things or a mortgage in the future? Or if your credit score is bad is it extremely difficult to improve? Thank you 😊

Anyone??

Ignore your credit score as it's irrelevant. It's a marketing gimmick made up by the credit reference agencies so they can sell you things to 'Improve' your score. Lenders make decisions to lend based upon your credit history and their own internal scoring system.

Aqua tend to start with a lowish limit, mine was a few hundred if I remember correctly and upped it after a few months. They were okay I guess, no problems that I can recall anyway. The only thing I would say is the interest rates are higher than most so make sure you pay it off in full every month, ideally set up a DD to clear the statement balance, otherwise it's an expensive card to have if you start paying interest.

I'm guessing from what you've written that you don't have much in the way of a credit history. In short having no history is almost as bad as having a poor history. Lenders like to know they will get paid every month, with no history they have nothing to go off so it's a bit of a gamble for them.
By taking out a credit card and managing it well will build up your history. Lenders will then see a well managed credit history and be more likely to lend because of it.

If you only want the card to build a credit history, it doesn't really matter what the credit limit is. It will probably start at about £250.

Just use the card to make one normal purchase each month (eg a tank of petrol or a grocery shop) and set up a direct debit to pay off the full balance each month, so you don't miss a payment, or pay any interest, which is at a high rate for this sort of card.

Be aware that for some of the time there will be two purchases sitting on the card, so make sure you don't go over your limit. They will probably increase the limit after a few months, so as long as you don't see this as an invitation to overspend, you'll be fine.

Your credit rating improves by managing credit well over time. Missed payments etc stay on your record for six years. But if you have a good record of paying things on time, which may include utilities, mobile phone contracts as well as credit cards or loans, this is a good thing, as it demonstrates to lenders that you are a responsible borrower.

I used it to up my credit rating. But pay off every month in full! It will help but only if you Never miss a payment xx

Okay great, I'll make sure I don't use more than 35 a month! I've heard stories they reduce your limit if u don't spend any at all!

I got one after being a naughty boy and getting into financial trouble think my first limit was £600 but it’s now upto £4500 .

Ive always paid it of each month without fail only charges ve had have been for using it abroad.

Just a simple card company have been fine there interest rate is High but pay it off and it’s free.

It sounds like you could do with a little financial education. Moneusavingexpert is useful for all kinds of financial information.

MONEY...

Hi there I've just been accepted for vanquis credit card 250 limit and also got the cash advance which they said would be in Wednesday (tomorrow) does anyone know what tine it usually goes in and can I transfer it to another account please