Credit cards can be used to make emergency purchases, cover expenses you would like to spread over a longer period of time and can also help you build your credit rating back up if it’s dipped in recent years,
You may have heard of aqua, a credit card provider that was set up to help people improve their credit rating.
However, before applying for any financial product, it’s important you research all your options and ensure you’re choosing something that works well for you both now, and if your circumstances should change. That’s why we’ve created this in-depth guide for the aqua card, what to consider before applying, and to compare how our short-term loans can support you.
What is an aqua classic card?
An aqua classic card is the popular, credit rating improvement focused credit card. If you pay back what you owe on time and in full after using the card, your credit rating could begin to improve. This will increase your chances of being accepted for a wider range of credit products in the future, including everything from loans to mortgages to even mobile phone plans.
At the time of writing, aqua offers a variable APR of 35.9% and you can apply for a limit of £250 up to £1,200.
Is the aqua classic credit card contactless?
Most aqua credit cards are now contactless but if you apply for and receive one, it’s worth checking before you use it. Look for the sideways wireless symbol on the card, this confirms it can be used as a contactless card. You can make payments up to £30 without needing your pin and get around easily on transport in London and other major cities.
What other cards can I get from aqua?
Here, we’ve broken down each of aqua’s credit card options and what they involve:
|aqua credit card||What it offers|
|Classic aqua credit card||A credit card that can help you improve your credit rating.|
|Advance aqua credit card||This credit card allows you to reduce your rate over a period of three years, if you pay on time and stay within your credit limit.|
|Reward aqua credit card||This credit card gives you 0.5% cashback on what you buy if you stay within your limit.|
|Start aqua credit card||This card has a lower credit limit between £100 and £300; it’s designed for people with a poor credit history, or those who have no credit history at all.|
How long does an aqua credit take to arrive?
An aqua credit card will be sent in the post and could take up to 14 days to arrive. If you’re applying for an aqua credit card to fund an urgent or emergency expense, then this may not be the best option. In this situation, a short-term loan from Sunny could help. Although short-term loans are an expensive way to borrow money, if used as intended over a short period, they can be an affordable and cost effective option.
We offer loans in amounts from £100 to £2,500 and if your application is approved, funds can be transferred into your bank account in as little as 15 minutes. This means there is no delay if you need cash fast and you can still spread the cost. You can pay back a Sunny loan over a period of six to 14 months, depending how much you borrow.
How much credit will I get on my aqua card?
With aqua, how much credit you can get depends in part on the type of card you apply for. It’s important to think about what you need, and this will then indicate which cards are suited to your needs.
- Classic – £250 – £1,200
- Advance – £250 – £1,200
- Reward – £250 – £1,200
- Start – £100 – £300
The amount of credit you will be approved for will be dependent on your credit history. A credit history that includes missed payments and defaults may lead to you only being accepted for a lower credit amount, if you are approved at all. The same rule applies for short-term loans.
If you opt for a loan from Sunny, you can apply for £100 up to £2,500. You can check how likely you are to be approved before you apply, and this won’t impact your credit rating. Simply supply your personal details, and we’ll carry out a soft search of your credit report***. This will let you know if you’re likely to be accepted. This type of credit check leaves a record on your credit file that’s only visible to you, so it doesn’t impact your credit score.
If you are likely to be approved, you can then go ahead and submit your application. We will then carry out a hard credit check – which leaves a record anyone who searches your credit report can see – and our affordability assessment.
What is the maximum credit limit on an aqua card?
The highest limit available on aqua’s range of credit cards is £1,200. Approval for this amount is subject to you meeting their criteria and passing credit checks. With a short-term loan from Sunny, you can borrow up to £2,500. This amount will allow you to cover a wide range of important expenses, from urgent car repairs to vet bills.
Where can I use an aqua credit card?
An aqua card can be used anywhere that displays a Mastercard logo. Mastercard is accepted widely but look for this when online or in stores to check you can use the card before trying to pay for your goods.
You can also use your card abroad but there may be an additional exchange fee to change the currency amount.
It’s important to note that with a loan from Sunny, the money sits in your main bank account and can be withdrawn without any charges, transferred to pay bills directly and used when making a transaction with your debit card.
Can I transfer money from an aqua credit card to my bank account?
You cannot transfer money from your aqua card to a bank account. However, you can make cash withdrawals using your card but they will be subject to additional charges, usually 3% of the transaction at a minimum of £3.
If you opt for a short-term loan, however, the money is transferred directly into your bank account to use as you wish and there are no charges to withdraw it.
Are there any other fees with an aqua credit card?
Yes, unlike Sunny who do not charge any fees, there are some charges to consider if you apply for a card with aqua. You will be charged £12 if your payment is late, returned or they can’t take the payment from your bank account, or if you go over your limit.
You also have to make sure you keep your contact details up to date with them. If you don’t they could charge you a trace fee of £20.
At Sunny, we don’t charge any fees – not even if you are late making a payment. We want to offer our customers life support when they need it and fees can make things just that little bit harder if you’re already in a tough situation.
Considering a loan instead?
If you’re dealing with an emergency situation and feel a short-term loan may be the better option, you can apply for a loan with Sunny via the link below.
***Soft search is currently only available to new customers. Our eligibility check will assess whether you meet our lending criteria. Even if you are eligible, we may still require proof of ID and/or proof of income before we approve the loan.