Aqua Cashback Credit Card - 0% Fee for Foreign Purchases. 0.5% Cashback.  Ideal for use abroad/holidays
81°Expired

Aqua Cashback Credit Card - 0% Fee for Foreign Purchases. 0.5% Cashback. Ideal for use abroad/holidays

22
Found 30th Jan 2015
I've seen other deals posted for credit cards such as the Halifax Clarity credit card that have 0% fee for foreign transactions.

The cashback rate is very low, but it is a nice little extra which you don't get on some of the other 0% foreign purchase cards.

This card works in the same way, but in addition you will receive 0.5% cashback on all foreign purchases (well - all purchases, but there are better cards available for general use in the UK).

I hope people find this useful. I have this card myself and use it purely for transactions in a foreign currency, or while I am abroad on holiday.

Interest Free Period - Maximum 51 days for purchases if you pay the full balance shown on your previous and current statement on time.

22 Comments

hot didnt know this xard before

Original Poster

haleluohao

hot didnt know this xard before



I've had the card for years. They used to offer 3% cashback (which couldn't be beaten) and I used it for all spend (including UK). Although now it is 0.5% cashback I only use it for foreign transactions.

It works great, gets the regular mastercard exchange rate with no additional charges.

who has the best CASHBACK credit card fee-free for UK use?
Used to have amazon credit card where they used to give 1% back in points, but thats stopped now.
Edited by: "urinthematrix" 30th Jan 2015

Original Poster

urinthematrix

who has the best CASHBACK credit card fee-free?Used to have amazon credit … who has the best CASHBACK credit card fee-free?Used to have amazon credit card where they used to give 1% back in points, but thats stopped now.



For foreign use ? - Taking into account the no fee for purchases, then this one.

For UK use - I would say one of the Amex cards - Although the rates tend to be tiered, so it all depends on how much you spend on the card over the year.

I am holding a ba amex stabdard card. the cash back is only 0.6%.

Thanks for the post happy - need a card for abroad and was going to get the Clarity card. Was thinking of this one but according to mse you get charged for withdrawals when abroad....
If you use the link on mse to apply for this you get a £20 amazon voucher

Original Poster

gari189

Thanks for the post happy - need a card for abroad and was going to get … Thanks for the post happy - need a card for abroad and was going to get the Clarity card. Was thinking of this one but according to mse you get charged for withdrawals when abroad....If you use the link on mse to apply for this you get a £20 amazon voucher



Yes, I would never withdraw cash from a credit card via an ATM - As there will always be interest to pay from the day it is taken out. Best to use the credit card just for regular transactions (purchases).

I hadn't realised you can get a £20 voucher via MSE. Presumably they are splitting their sales commission with the customer signing up.
Edited by: "happymanuk" 30th Jan 2015

Just looking at this on mse and it says in the write up that there's no interest free period on purchases?
Interest at 34.9% at least charged from day of purchase?
If that's the case, does that not negate or cancel out any saving made from purchasing abroad, or am I missing something?

Original Poster

defgimp

Just looking at this on mse and it says in the write up that there's no … Just looking at this on mse and it says in the write up that there's no interest free period on purchases?Interest at 34.9% at least charged from day of purchase?If that's the case, does that not negate or cancel out any saving made from purchasing abroad, or am I missing something?



Read what you see on MSE with a pinch of salt. Check out the official Aqua credit card website and T&C's.

There is an interest free period on all purchases (as with most/all credit cards).

See: apply.aquacard.co.uk/en/…spx

Specifically:

Interest Free Period - Maximum 51 days for purchases if you pay the full balance shown on your previous and current statement on time.

Edited by: "happymanuk" 30th Jan 2015

happymanuk

Read what you see on MSE with a pinch of salt. Check out the official … Read what you see on MSE with a pinch of salt. Check out the official Aqua credit card website and T&C's.There is an interest free period on all purchases (as with most/all credit cards).See: https://apply.aquacard.co.uk/en/sitecore/content/Aqua/Web_Channel/Cards/RewardApply/SummaryBox.aspxSpecifically:Interest Free Period - Maximum 51 days for purchases if you pay the full balance shown on your previous and current statement on time.



Thanks, you beat me to it
Went and had a look at the summary and it said;

We charge you interest on all transactions from the date we first charge the amount to your account. However, if you pay your total balance in full and on time each month, you will not be charged interest on purchases. If you do not pay the total balance shown on your statement each month, we will add the interest charged to your next statement balance.

So as long pay it off it shouldn't cost

Original Poster

defgimp

So as long pay it off it shouldn't cost



Exactly, and you will be paid the cashback rate of 0.5% - Although small, better than nothing

Original Poster

Maybe I'm missing something obvious, but why are a lot of people voting this cold (but not leaving a comment) ?

Is there any other credit card offering a higher rate of cashback on a card that doesn't incur a foreign currency charge for purchases abroad ?

I enjoyed the 3% as well... along with the 0% forex but the drop to 0.5% cashback meant it wasnt worth it.. the halifax clarity card does it all in one including free atm withdrawal... the credit limit was a pain as well.. 250 to start with

Is there definitely a fee for ATM withdrawal? Cos there isn't with the Halifax Clarity card.

happymanuk

Maybe I'm missing something obvious, but why are a lot of people voting … Maybe I'm missing something obvious, but why are a lot of people voting this cold (but not leaving a comment) ?Is there any other credit card offering a higher rate of cashback on a card that doesn't incur a foreign currency charge for purchases abroad ?


There are lots of reasons why people vote cold and many of those have nothing to do with the "quality" of the deal eg some people vote a deal cold because its not something they are interested in, some because they want to provoke a reaction or annoy the OP, others vote things cold because its an apple/android/MS product and they are silly fanboys - and you get fanboys for almost everything .....
A few cold votes doesn't mean its a bad deal.

gari189

There are lots of reasons why people vote cold and many of those have … There are lots of reasons why people vote cold and many of those have nothing to do with the "quality" of the deal eg some people vote a deal cold because its not something they are interested in, some because they want to provoke a reaction or annoy the OP, others vote things cold because its an apple/android/MS product and they are silly fanboys - and you get fanboys for almost everything ..... A few cold votes doesn't mean its a bad deal.




Thus why we need to bring back the option of a neutral vote for deals, so that people who are meh about it can skip it without damaging the deal. I feel this card is not a deal as there are many other options offering the same thing elsewhere so it's not hot but also not cold.

I used to have this card but they only offered a near useless £500 credit limit on it to me (I can't remember the last month that I had a card bill under that figure). I used it with care paying off the balance every couple of weeks to avoid any over use charges but it was a bit of a pain. I only kept it until they dropped the rate.

Original Poster

Astec123

I feel this card is not a deal as there are many other options offering … I feel this card is not a deal as there are many other options offering the same thing elsewhere so it's not hot but also not cold.



I'm genuinely interested in knowing what other credit card offers cashback in addition to 0% on foreign purchases ? - As I might as well have one as a backup.

Halifax Clarity among others and all options depend on how much you spend as to which is best, plenty of comparison sites showing the available options MSE for one. My real issue is the fact they dropped the cashback so heavily from 3% so it used to be a 6 times higher cashback rate and all of it was with very little warning. Tied to the pitiful credit limit they offered me was irritating, clearly it was just to limit people spending.

When it came to the end they offered the following.

Further to the letter we sent you dated 1 November 2013, we’d like to r … Further to the letter we sent you dated 1 November 2013, we’d like to remind you that we will be withdrawing the existing aqua Reward Card on 22 January 2014 and your card will no longer work from this date.If you would like to continue earning cashback on purchases after 22 January 2014, we will have a new product available with a cashback rate of 0.5% (with maximum cashback limit of £100 in a year) and a representative rate of 34.9% APR (variable) which we are giving customers the option to transfer to. aqua cardNew aqua Reward Card To transfer to this new account simply:Sign the Credit Agreement we sent with your original letter and return it to us as soon as possible. So long as your account is up to date and we approve your application, you will be able to continue using your card after 3 business days of your Credit Agreement being received.There will be no fee applied to your account to make this transfer. We will also transfer any cashback you’ve earned on your existing account. Your card number, account number, Personal Identification Number (PIN) and anniversary date will remain the same.If you choose not to transfer, you will still be required to repay any outstanding balance in line with the account terms and conditions. Any cashback accrued will be paid into your account approximately 2 weeks after closure.



So they offered me the same card, the same credit limit, increased interest rate from 29.9% and lower reward level. I enquired about a credit limit increase and was told that I would not be able to get one on the new account. This was the straw that broke the camels back for me considering my wages have stagnated without increase for the last 3 years and I today (as a result of this post so thanks for that kick up the behind) applied for a Halifax Clarity Card (£5 reward for spending £300 = 1.6% cashback effectively) and got a limit of £2800 instantly approved. All the while my credit rating has been pretty well unchanged.

I feel that Aqua clearly are trying to avoid customers who will never not pay in full and rely on them at some point paying fees.

As I posted, I've not voted either way as it's neither a good deal, but also at the same time it's not a bad one, it's just the rate most everywhere is offering. The best option is to use a combination of these types of cards, I'll use my Halifax one up to the £300 spend requirement and then use another existing card for all other spending that I get 1% rewards (in Amazon vouchers) that's also no longer available to be applied for but the bank hasn't decided to close all the accounts on the deal.

Edited by: "Astec123" 30th Jan 2015

Original Poster

Astec123

Halifax Clarity Card (£5 reward for spending £300 = 1.6% cashback e … Halifax Clarity Card (£5 reward for spending £300 = 1.6% cashback effectively)



I agree - I've been with Aqua since it was 3% and was annoyed when it was reduced. I'm now just stuck on 1% (with another card), although 4% for supermarket and petrol.

Out of interest - how do you get this reward with the Clarity Card, as I couldn't see the reward side mentioned.

Thanks

happymanuk

I agree - I've been with Aqua since it was 3% and was annoyed when it was … I agree - I've been with Aqua since it was 3% and was annoyed when it was reduced. I'm now just stuck on 1% (with another card), although 4% for supermarket and petrol.Out of interest - how do you get this reward with the Clarity Card, as I couldn't see the reward side mentioned.Thanks



You have to have a rewards current account with them so in effect I will get once it's all up and running

Personal reward Current Account - £5 reward
Joint reward Current Account - £5 reward
Clarity Credit Card Account - - £5 reward

All I have to do is, pay wages in to my account (min £1000), transfer £1000 to the other reward account and back again, a standing order makes this easy to do. Then spend £300 on the credit card. It's well worth getting the accounts in my book for the minimal effort and £180 I will get back out of it. All I have to do is convince my other half who also banks with Halifax to upgrade their existing account to a rewards one too and then we'd earn £240 a year just for banking with them and a small amount of effort moving funds about.

hotukdeals.com/dea…879
Lazy link from earlier this morning about the clarity card.
Edited by: "Astec123" 30th Jan 2015

Original Poster

Astec123

You have to have a rewards current account with them so in effect I will … You have to have a rewards current account with them so in effect I will get once it's all up and runningPersonal reward Current Account - £5 rewardJoint reward Current Account - £5 rewardClarity Credit Card Account - - £5 reward



Is that instead of receiving credit interest, or in addition to it ?

Astec123

You have to have a rewards current account with them so in effect I will … You have to have a rewards current account with them so in effect I will get once it's all up and runningPersonal reward Current Account - £5 rewardJoint reward Current Account - £5 rewardClarity Credit Card Account - - £5 reward

£5 reward each month you pay in £750+, pay two different direct debits a … £5 reward each month you pay in £750+, pay two different direct debits and stay in credit



Yes, at the end of the day most bank accounts offer near as makes no difference no interest (a couple of banks do offer a bit more with stipulations) and savings accounts don't offer not much more. I did a test a while back and 30 days of interest on a Natwest current account I have by putting £3000 in it. I earned less than £1 in that period and it's the main reason why I plan to get shot of them in the near future. So 3 times the cash required by a Halifax account earned much less than 1/5 in interest and the money in the Halifax account can be moved out as it counts so long as it was deposited.

Edit: My understanding of the figures was incorrect it's

halifax.co.uk/ban…nt/
So a couple of low end DD's for some basic things and you can easily turn having an account into a money spinner.
Edited by: "Astec123" 30th Jan 2015
Post a comment
Avatar
@
    Text