Aqua Classic Credit Cards for Poor Credit Rating

Aqua Classic credit cards for poor credit rating enable people with a bad credit history to start rebuilding their credit rating. While many credit card providers reject applications from people with poor credit, the Aqua Classic credit card is specifically designed to meet the needs of those with a current or previous bad credit score. If you have been refused a credit card by other providers, the Aqua Classic credit card may be the right choice for you.

Aqua

Aqua is a credit card provider that specialises in providing credit cards for people with bad credit or a poor credit history, including those with defaults or a County Court Judgement (CCJ) against their name. Aqua also provides credit cards that are specifically designed to meet the needs of people on a low or irregular income, such as those working part-time and self-employed people. In addition, Aqua considers applications from people not currently registered on the electoral roll, such as those having recently moved to a new property.

Aqua Classic Credit Card

The Aqua Classic credit card can help you to rebuild your credit rating, providing all monthly payments are made in full by the date requested on your statements. Initially, you will be given a credit limit between £250 and £1,600, depending on your personal circumstances. Once you have been an Aqua customer for over four months, you can apply to have your credit limit increased, as long as you have kept your payments up to date. You can use the Classic credit card to buy goods at most retail outlets, as well as to buy items online. You can also transfer the balance from any other credit card to your new Aqua Classic card. In addition, you can use your card to withdraw money from from cash machines, both at home and abroad.

Interest Rates

The representative APR for the Aqua Classic card is 35.9%, although the actual interest rates charged on your transactions will depend on a number of factors, including your current financial situation, the amount of your credit limit and your ability to make repayments. Monthly interest rates on purchases are currently between 2.59% and 3.43%, while annual interest rates on purchases range between 35.95% and 49.92%. Cash advances incur a monthly interest rate between 2.84% and 3.99%, with annual rates varying between 39.95% and 59.95%. The interest charged on balance transfers is currently set between 2.59% and 3.43%, with annual rates ranging from 35.95% and 49.92%. Interest is charged on all purchases, cash withdrawals and balance transfers from the first day they are added to your account, and will continue to be charged until the full transaction amount has been repaid.

Fees and Charges

There is no annual fee to pay for the Aqua Classic credit card, but some services are charged at a set rate. Cash advances incur a fee of 3%, with a minimum fee of £3 per transaction. Balance transfers will also incur 3% fee. If you want to use your credit card to make purchases abroad, you will pay a non-sterling transaction fee of 2.95%. In addition, cash withdrawals made while travelling abroad will incur a fee of 3%, with a minimum charge of £3 per transaction. Exceeding your credit limit, failing to make the minimum payment and having a payment returned will all incur a standard charge of £12.

Making Repayments

In order to start rebuilding your credit rating and prevent extra charges being added to your account, you must pay the requested amount on your statement within the time frame stated. Each month you will be sent a statement to inform you of the minimum amount you need to pay. The minimum amount will be the sum total of any charges (e.g. payment default fees), any interest accrued and 1% of the total balance of your credit card account.

If you want to apply for one of the Aqua Classic credit cards for poor credit rating, you can apply online using the simple application form provided on the Aqua website. The application takes around five minutes to complete, providing you have all relevant information to hand while completing the application. If your application is straightforward, you could receive an instant decision, although some people may need to provide additional information and evidence to prove their identity or personal circumstances.

 Sam Jones the author of this article regularly reviews uSwitch.com for the latest information on credit cards for poor credit rating.  

 

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