The Aqua credit card has been designed for those whose credit histories are not as good as they could be and who struggle to obtain credit facilities from the card companies.
Ever since the credit crunch upset the lending apple cart a few years ago, lenders and credit card companies have been far more selective about who they want to offer their credit related products to.
If you have a good credit history, there is no difficulty in obtaining a credit card from the main card companies and if you pay off your monthly bill, you’ll enjoy free credit facilities and the purchasing freedom that a credit card brings.
Things are very different for those whose credit histories are impaired, however. These people will be unable to apply for a conventional credit card as they won’t get past the automated credit card scoring in during the application process.
This is where the Aqua credit card comes in. Aqua take a much more accommodating view of an individuals’ personal financial situation.
They will consider self employed people, those with credit impairment including previous County Court Judgments (CCJs), those who are not on the electoral roll or have recently moved to the UK. As long as you meet their criteria, they will offer the card to you, though the interest rates are high compared to conventional credit cards.
This is what Aqua say about their application policy:
“We treat all our customers and their applications on an individual basis, the APR and interest rates we offer are determined by the details customers supply, along with an independent verification of credit and repayment history.”
“Your personal APR for purchases will be either 35.9% APR (variable), 37.9% APR (variable) or 39.9% APR (variable). Your interest rate for balance transfers will be the same as for purchases. Two thirds of customers are offered our best rate of representative 35.9% APR (variable).”
Although the interest rates are high, there are no annual fees and they will not charge interest on purchases if you pay your balance in full and on time each month.
So if you are finding it difficult to get a credit card, the Aqua Credit card is definitely something to look at.
Not only is it more likely that you will be accepted, although you must be prepared for the higher interest rates, but by making payments on time and staying within the credit limit means that your credit history could start to improve.
To get more details and apply for an Aqua Credit Card see www.aquacard.co.uk.