Other factors that determine your credit limit include your income, your debt-to-income ratio, your credit history, and other credit cards you have, as well as their limits. If you apply for an Aqua card, the credit limit we offer will be based on your personal circumstances. Compare live rates and alternatives. our site. This is subject to our terms of use. aqua is part of the London-based NewDay group of companies, which is the credit card provider for some big high street names, including Debenhams, Topshop, Laura Ashley and Amazon. Aqua keeps me up to date with when my payments are due.”. Managing your credit limit is important both for staying out of debt and building a good credit score. A secured credit card’s credit limit is equal to the deposit amount. A “credit-builder” aimed at applicants who have a poor credit rating.   If you’ve never borrowed money, lenders don’t have much information to judge whether you’ll manage your credit well. I made an online application for an Aqua Reward Credit Card myself. An initial credit limit between £250-£1,200, Build your credit score, if you manage your account and finances well, Potential to increase your credit limit if you manage your account well, Text alerts to make it easier to stay on track, Award-winning support from our UK-based customer helpline, As a Mastercard, our Aqua Classic card is accepted at over 35 million places worldwide. It is normally determined by the lender, who uses your credit report and information on your credit application to set the limit. We’ll try to give you a ‘yes’ for the credit you need and can afford – even if you’ve been turned down for credit in past. Once you've had the card for a while and shown aqua that you're reliable, you may wish to apply for a credit limit increase. Credit is provided by NewDay Ltd. NewDay Ltd and NewDay Cards Ltd are companies registered in England and Wales with registered numbers 7297722 and 4134880 respectively. aqua credit cards are also on the Mastercard network, which means they can be used in more than 35 million places worldwide. Can I apply for a credit card if I have bad credit? For example, make sure you're on the electoral roll, pay bills on time, including your credit card and check your credit record regularly. Each lender will carry out its own assessment based on your credit history and decide based on their own criteria, so it’s still possible for you to get credit and use it responsibly. The aqua Secure online security suite monitors all transactions carried out using most current web browsers (e.g. You can call the customer services helpline on 0333 220 2691, or from overseas by calling +44 113 244 8986. My application was accepted with the initial maximum credit limit of £1,600. ... Failure to make payments on time or to stay within your credit limit means that you will pay additional charges and may make obtaining credit in the future more expensive and difficult. The easiest and most convenient way to apply for an aqua credit card is online – you can get an instant indication of the likelihood of your application being successful by using aqua’s “FastCheck”, and it won’t leave a “footprint” on your credit file so you don’t have to worry about your credit score. aqua’s Classic card has an initial credit limit between £250 and £1,200 until customers have proved themselves to be able to pay on time and keep to their limit. decisions. If you do not make at least your contractual minimum payment in full and on time or if you go over your credit limit any promotional rates may come to an end and we will charge the standard interest rate, as applicable, instead of the promotional rate. As part of the Mastercard network, the marbles credit card is accepted in more than 35 million locations worldwide. But this is exactly the wrong thing to do. NewDay Ltd and NewDay Cards Ltd are authorised and regulated by the Financial Conduct Authority (FCA) with numbers 690292 and 682417 respectively. Life flows better with EBL Cards! The total payment amount will be $10182.95. As well as launching the Advance card, Aqua has also cut the rate on its existing Classic card from 35.9% to 32.9%. The minimum limit offered on the card is £250, while the maximum is £1,200. VAT number: 259751759. The Aqua Classic Card is designed to help you rebuild your credit rating & recover from poor credit history. If aqua is able to offer you this deal, the offer will specify a personalised credit limit based on aqua's assessment of your situation. And, the First Premier Bankcard charges 25 percent of the increase each time you’re approved for a credit limit increase. Using credit well is the most important factor in building a good credit history, so having no history of using credit can be just as much of an issue as a history of using credit poorly. daily, Post Office Money® Classic Credit Card Mastercard, Not have been registered bankrupt in the past 18 months or have bankruptcy proceedings against you, Have a current UK bank or building society account, Not have received a county court judgement in the past 12 months, Not have an existing aqua card or have taken out another card issued by NewDay in the past 12 months. aqua offers customers a range of tools designed to help borrowers run their card accounts. In general, it's best to keep your credit card balance below 30% of your credit limit. If aqua is able to offer you this deal, the offer will specify a personalised credit limit based on aqua's assessment of your situation. Data Protection ICO registration number: We are a credit broker and not a lender and A lower credit limit can be a bit safer for those looking to keep up with monthly payments, especially those trying to pay the full balance every month. This means when my spending hits £3,333.00 in a 12 month period and I’ve reached the maximum cashback, I stop using the card. Other credit cards have a credit limit rate and approved cardholders are assigned a credit limit within that range. The Harley Card does allow a $5K deposit, and it also has both a $0 annual fee and rewards. NewDay Ltd is also authorised by the FCA under the Payment Services Regulations 2017 (ref no: 555318) for the provision of payment services. High limit credit cards are aimed at wealthier individuals with good credit scores and offer a host of elite benefits on top of high spending limits. That means they might not have the headline grabbing APRs, but are designed as a bridge to more competitive credit products. I have an Aqua Mastercard credit card, how can I access Priceless Cities? The Aqua Classic. Your credit limit is the maximum amount of money you can borrow on a credit card. The short answer is ‘yes’. Now the reason for that is that the Aqua Reward Credit Card pays a healthy 3% cashback, but with an upper limit of £100 cashback a year. Hi, have looked into what sort of credit limits aqua usually offer to start with and it's between £250 and £1200. Be upgraded to the Amazon Platinum Mastercard if you make at least one transaction a month, make repayments on time and stay within credit limit in the first 12 months.. Buy tickets for up to 3500 selected live events through Barclaycard entertainment and get 5% off tickets per year and exclusive pre-sale tickets on selected festivals with 10% off ticket prices. We continuously monitor your account to see how you’re getting on and may increase your limit, so long as you’re making your monthly payments and sticking to your current credit limit. Are online transactions using an aqua card safe? The representative APR is 35.9% for an assumed spend of £1,200 to be repaid over one year. may also receive compensation if you click on certain links posted on APR stands for annual percentage rate and represents the amount of interest you’ll pay annually on any money you borrow unless you clear your whole balance each month. For example, if your Aqua Finance credit card balance is $5000, the APR is 24.99%, the minimum payment is 4% of your balance and the first minimum monthly payment is $200, the results will be the following.You will need 169 months to pay off your card. Each full application is logged on your credit report, so the more you apply and are turned down, the more likely you are to keep getting turned down. We’re here to help. aqua credit cards are also on the Mastercard network, which means they can be used in more than 35 million places worldwide. There are a few other secured credit cards with $5,000 limits that you can get with bad credit. Confirm details with the provider you're interested in before making a decision. We endeavour to ensure that the information on this site is current and The APR applicable to your account will depend on our assessment of your application. They form part of the NewDay group of companies. On a credit card with a $1,000 limit, that means you would want to keep your balance below $300, leaving you with $700 of available credit. offer credit facilities from a panel of lenders. Please remember that when you pay for anything in a foreign currency, depending on the type of Aqua card you have, you may incur a charge. That’s why you need to pick a card that’s designed for your circumstances and offers an eligibility check – sometimes called a ‘soft’ check – up front. With all of aqua’s cards, building credit is the primary focus. As well as using the latest online technology to ensure transactions are secure, aqua also has dedicated teams monitoring day-to-day transactions and intercept any suspicious activity on your account.. product or commit to any plan. Aqua’s credit cards are designed to help you improve your credit score. Subject to status. If you have a bad credit history or haven’t applied for a credit card before, it can be tempting to fill out lots of applications in the hope that at least one of them will be successful. If you haven’t stuck to the terms of credit agreements in the past, lenders might decide that it’s a risk to give you credit. All Mastercard credit cardholders are entitled to use their. While we are independent, we may receive compensation from Remember to sign your card as soon as you get it! There are lots of steps you can take to start improving your credit score and options for getting credit while you have bad credit. Optional, only if you want us to follow up with you. unsure you should get independent advice before you apply for any Can I apply for a credit card if I have a bad credit score? Level 2, 20 St Thomas St, Reduce your interest rate as you use your card when you manage your account well. The aqua Secure information box appears when you enter your account details on many retailers’ e-commerce sites to show you that its security is compatible with aqua Secure. Also, if you have been made the subject of a CCJ you may not be accepted, and you are unlikely to be given a card if you have ever declared bankruptcy. Credit cards enable you to borrow up to a maximum amount, known as a credit limit. Aqua Card is great I moved to the UK recently, I applied for the Aqua card to build my credit score. Welcome to the world of EBL Cards! We update our data regularly, but information can change between updates. Your credit limit is the maximum outstanding balance you can have on a credit card or line of credit without being penalized. How does the credit limit on a credit card work? For example, if your credit limit is £20,000, you’ll be able to make purchases up to a total of £20,000 each month, without having to repay your credit … Credit builder cards aren’t usually associated with rewards, but aqua are helping to reshape that belief with their reward card, which allows borrowers to earn rewards at the same time as developing their credit. The Credit One Bank Visa Platinum credit card, for example, may charge up to $49 when you request a credit limit increase. Credit available only to UK residents aged 18 and over. authorised and regulated by the Financial Conduct Authority (firm It’s also important to remember that nobody has a single credit ‘score’ that all lenders look at to decide whether to give you credit. It's always wise to check the terms of any deal before you borrow. Representative 37.9% APR variable. The first step is to decide which card is right for you. Most users are unlikely to hit this maximum however, as it would require spending £20,000 a year on your card—unlikely given the card's initial credit limit of £250 to £1,200. Credit Limit Increases. We may receive compensation from our partners for placement of their products or services. A lower balance means your credit utilization ratio, which accounts for 30% of your credit score, will also be low. Always consider your own circumstances when you compare products so you get what's right for you. Internet Explorer 5.5 and higher, and Macintosh Safari). You can get an instant indication of the likelihood of your application being successful by using aqua’s “FastCheck”, and it won’t leave a “footprint” on your credit file. Unless we've said otherwise, products are in no particular order. Thomas St, London, SE1 9RG. Aqua’s cards do what they promise without any problems and they’re easy to use. The Aqua Classic card could help people with a poor credit history. The most common ways that people break credit agreements are: For example, if you made lots of late payments on your credit card or missed payments altogether, other lenders are likely to think that you might miss payments and decide not to give you credit. The company is open about the fact that it aims to help people move to other finance products as their needs evolve, with the intention to “help all customers be better with credit”. If you are But most secured cards do not allow deposits as high as $5,000. Initial Aqua Classic credit limits fall between £250 and £1,200, and will depend on your application and credit record. Terms apply. We Your aqua online account lets you manage everything to do with your aqua card in one convenient place – from paying your balance to changing personal details. Our cardholders can enjoy great lifestyle and travel benefits on their EBL Cards round the year. The aqua Advance Mastercard is a credit-builder credit card with a rate that drops every year for the first three years. finder.com is an independent comparison platform and information service that aims to provide you with the tools you need to make better decisions. Be aware that some credit cards charge a fee to increase your credit limit. Approval for any credit card will depend on your status. Clubcard points are turned into Clubcard vouchers every 3 months or sooner using Faster Vouchers. NewDay was launched in 2001 with the aim of providing finance to customers with a poor or no credit history. Download Close. It has a more lenient application process than most credit cards and a maximum credit limit of £1,200. EBL offers a range of Credit, Debit and Prepaid cards to meet the daily financial needs of both consumers and corporates. Are over 18 and have a permanent UK address, Haven’t been registered bankrupt in the past 18 months and don’t have ongoing bankruptcy proceedings against you, Have a current UK bank or building society account, Haven’t received a County Court Judgement (CCJ) in the past 12 months, Don’t already have an Aqua card and haven’t have taken out an Aqua, marbles, opus or Fluid card in the past 12 months, Need a little guidance? Having a bad credit history is one of the main reasons people are turned down for credit cards, loans, and even bank accounts. We may also receive compensation if you click on certain links posted on our site. Please note: aqua’s interest rates (other than promotional rates) are linked to the Bank of England Base Rate. Will checking my eligibility for an aqua credit card affect my credit rating? Fees and rates are subject to change without notice. You can apply for a Aqua credit card with a limit of up to £300. Some credit cards have a specific credit limit, $1,000 for example, that every approved cardholder receives, regardless of other factors. Once you've had the card for a while and shown aqua that you're reliable, you may wish to apply for a credit limit increase. Please appreciate that there may be other options available to you than the products, providers or services covered by our service. accurate but you should confirm any information with the product or When you make major financial decisions, consider getting independent financial advice. About Aqua credit limits. To do this, call aqua’s automated service on 0800 028 7777 or activate your card online via its website. It’s marketed as a ‘credit builder’ option for exactly this reason. The total interest will be $5182.95. One thing they can’t do is lower your credit limit and then immediately slap you with an over-the-limit fee or penalty rate if you happen to exceed the new lower limit. Our goal is to create the best possible product, and your thoughts, ideas and suggestions play a major role in helping us identify opportunities to improve. reference number: 786446). While compensation arrangements may affect the order, position or placement of product information, it doesn't influence our assessment of those products. Bad credit is usually a way of describing having a low credit score, due to either a history of using credit poorly or not having built up much of a credit history. Finder.com Comparison UK Limited (company number: 10482489) is Before you start using it, your card obviously needs to be activated. Chris Lilly is a publisher at finder.com. A line of credit is a flexible loan from a bank or credit union. The lower the APR, the less you’ll have to pay in interest. The terms "best", "top", "cheap" (and variations of these) aren't ratings, though we always explain what's great about a product when we highlight it. that aims to provide you with the tools you need to make better You can apply for an Aqua card as long as you: Your credit score is a number based on a range of different factors that gives an indication of how good you are with credit. Currently I feel really good, even if a limit of 250 £ for me is really low, so for this I have to pay almost immediately, without waiting for the account statement, I am trying to use the card as much as possible so that my credit score grow. Our address is Level 2, 20 St How do I contact aqua if I don’t have internet access? aqua. He's a specialist in credit-based products including business and personal loans, mortgages and credit cards, and is passionate about helping UK consumers make informed decisions about their borrowing. For example, possible credit limits for a particular card may fall between $5,000 and $10,000. While we are independent, the offers that appear on this site are from companies from which finder.com receives compensation. Failure to make payments on time or to stay within your credit limit means that you will pay additional charges and may make obtaining credit in the future more expensive and difficult. Improve your credit score with an Aqua credit card, the cards for people with a poor credit history. If you have a bad credit history, it’s important to remember that millions of people in the UK are in the same category, so you’re not alone and you can get help to fix it. service provider and read the information they can provide. ... Representative (variable) for Aqua Classic. Am I eligible to apply for an Aqua Classic card? The registered office for these companies is 7 Handyside Street, London, N1C 4DA. To qualify for an aqua credit card, you must: If you meet the broad criteria outlined above, but have a history of bad debt, you could be rejected. In his spare time Chris likes forcing his kids to exercise more. finder.com is an independent comparison platform and information service Aqua is one possible option if you’re looking to build your credit rating and just looking for a few hundred pounds. We can’t promise to say ‘yes’ as we need to ensure we lend responsibly, but we will do our best to accept you. Check your eligibility in less than 60 seconds, with no impact on your credit score, Stay in control with our handy app, text alerts, useful guides and more, If you have a low or bad credit score, we can help you start your journey towards better credit when you manage your account well. The minimum limit offered on this card is £250 and aqua does not specify a maximum. Credit cards provide a flexible way to borrow money as and when you need it. Let’s look at the two situations which usually result in it being more difficult for people to get credit. Your aqua online account lets you manage everything to do with your aqua card in one convenient place – from paying your balance to changing personal details. Currently they have a 6 months balance transfer offer with 3% fee (minimum £3). What does aqua do to keep my card details secure? finder.com compares a wide range of products, providers and services but we don't provide information on all available products, providers or services. our partners for featured placement of their products or services. Aqua card - The start card. A credit card can be a great way to rebuild your credit score, but there are some simple things you can do to help improve your credit score. Aqua is a trademark of NewDay Cards Ltd, which is used under licence by NewDay Ltd. What are the benefits of the Aqua Classic card? The APR shown represents the interest rate offered to most successful applicants. Data indicated here is updated Because of COVID-19, credit bureaus are allowing free weekly online credit reports via AnnualCreditReport.com from now through April 2021. You’ll be able to see this “soft search” when you check your credit history, but other lenders won’t. At Aqua, we’ll do our best to help you with both. A bank or credit card issuer can generally lower (or increase) your credit limit at any time as long as it’s allowed in the credit card agreement. Depending on your personal circumstances the APR you're offered may be higher, or you may not be offered credit at all. In this guide, you’ll find out more about how credit cards work and the things you need to know before you get a card and when you’re using your card. Your Aqua credit card is a Mastercard, which means it’s accepted in more than 36 million places and over 600,000 cashpoints around the world. Collect 1 Tesco Clubcard point per £4 spent (£4 minimum) in Tesco and 1 Clubcard point per £8 spent (£8 minimum) outside Tesco in each purchase transaction. ZA227007. aqua is part of the London-based NewDay group of companies, which is the credit card provider for some big high street names, including Debenhams, Topshop, Laura Ashley and Amazon. Learn how we maintain accuracy on our site. A higher score means that lenders are more likely to lend to you. Reduce your interest rate as you use your card when you manage, Making lots of late payments or missing payments altogether, Going over their credit limit – especially if it happens regularly. London, SE1 9RS. We show offers we can track - that's not every product on the market...yet. You could get a credit limit increase after your 5th statement and further increases every 5 months, up to £4,000. Aqua Cashback Rewards: The Aqua Reward Credit Card offers 0.5% cashback on purchases, capped at £100 a year. The credit limit is the maximum amount you can spend using your credit card in each statement cycle. Starting credit limit from £250 to £1200. Must have available credit to collect Clubcard points. Unfortunately, the maximum cashback paid on the Aqua Reward Credit Card is £100, so I’ll stop using the card once I’ve spent £3,333.00 a year. Clubcard vouchers can be used in Tesco or with Clubcard Reward Partners to get even more value on dining out, hotel stays and travel. Beware of Credit Limit Increase Fees . Please don't interpret the order in which products appear on our Site as any endorsement or recommendation from us. Wrong thing to do rate offered to most successful applicants I contact aqua if have. 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