26 Feb 2015

A question about : Aqua credit cards

I applied for a credit card with Aqua, attracted by the 3% cash back. I received a letter this morning declining my application due to my credit history?!? I have a perfect credit history, and the irony is that this is supposed to be a card good for people with a poor credit history. The letter blamed information from Experian, so I phoned them in a panic that there was some fraud happening in my name. Experian confirmed 1) that there is absolutely nothing negative in my credit history, and 2) Aqua had not even performed a credit search.
I phoned Aqua to speak to them about it but after 20 min on hold and being passed around numerous different people, they suggested I purchase a copy of my credit report and post it to them for them to consider an appeal. As if I want to prove to them that I am worthy of their card with its appalling customer service - they can stick their card where the sun don't shine. I don't need their card to know that they should not be recommended to anyone!

Best answers:

  • It sounds like you posted this in a moment of anger because you got refused.
    Any credit issuer that declines you must state which CRA they used, however, they can decline you without ever searching your report if they think you don't match their expected criteria. This can be anything, even such things as paying off your CC in full every month.
  • Excellent credit history and applying for an aqua card Doesnt make sense what's wrong with the Amex or capital one 5% cashback or even the Santander 123 card.
  • Boo hoo, as you said, aqua is for people with nor perfect credit!
    You said you have perfect credit!
    Therefore there is little chance of you getting accepted as they would not see you as a profitable investment.
  • Cashback is max Ј100/year, so Ј3333 * 0.03 = Ј100.
    Capital one are sticky people about people who don't own there own home.
    Amex is not accepted everywhere and typically comes with a fee, so you need to know you'll use the card.
    Santander 123 only gives 3% on fuel, and I believe has a fee after the first year.
    So Aqua is probably the best for a pure 3% cashback.
  • I tried to apply for an Aqua card the other day but I was declined myself despite having good credit nowadays. I've got a Capital One card which I'm happy with though I want to be more mainstream attractive.
    But Aqua can go screw themselves. Not bothering with them ever again.
  • Gromitt, as I said, Aqua's letter stated that their information was from Experian. Experian have no record of a search by Aqua (although their records were otherwise accurate and complete). Whatever their reasons are, the information they have given me is incorrect. They are allegedly good EVEN for people with poor credit history, not ONLY people with poor history. I think I should be able to expect true information from any respectable company, not just be told that I should pay for a copy of my credit report and then appeal.
    Trikidy, they do not state anywhere that a poor credit history is a requirement! If they are going to discriminate this way, they should state it, so people don't waste their time. Pregnant & moving house, I don't need the stress caused by them leading me to believe there was a problem with my finances.
  • Why on earth would you want to apply for an Aqua card when you have a perfect credit report. The Santander 123 card, for example, offers a much better deal with a broader range of cashback options. I'd say that in rejecting your application they did you a favour!
  • I applied for an Aqua Reward Credit Card and had an acceptance letter on 27/06/2012.
    I read in the Pre-contract Credit Information, Page 1 of 4 the following:
    "Each month in which you have a balance outstanding on your account you must repay an amount equal to the total of any interest, default sums plus 1.0 % of the balance shown on your statement..."
    Does this imply that even if I pay the balance in full each month I must repay an additional 1% of it?
    Also I do not seem to have any documentation from Aqua to show that I want to pay each month the full balance by direct debit from my bank account.
    Where would such documentation be found please?
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