Going over your credit limit may affect your credit score. If you do want to increase your credit card limit, there are a few things you should be doing: Not necessarily. As is standard with these types of card, this means you’re likely to get a low credit limit and high interest rate. 34.9% APR. An initial credit limit between £250-£1,200 Build your credit score, if you manage your account and finances well Potential to increase your credit limit if you manage your account well About Aqua | Classic credit card aqua’s Classic card has an initial credit limit between £250 and £1,200 until customers have proved themselves to be able to pay on time and keep to their limit. Welcome to the world of EBL Cards! Your aqua online account lets you manage everything to do with your aqua card in one convenient place – from paying your balance to changing personal details. You may lose any promotional interest rates, e.g. The aqua Classic credit card is a fairly standard “credit-builder” card aimed at those with limited or poor credit history. Offering an initial low and manageable credit limit, aqua start provides a solution for those who may not previously have been able to access the existing aqua credit card range. If you’re regularly using all of your credit limit – no matter what it is – it’s a sign that you may not be managing your credit well. The starting Aqua Classic credit card limit is between £250 and £1,200, depending on your credit history. The latest addition to our suite of credit cards is aqua start, which has been designed to help customers on the first leg of their credit journey. A credit limit decrease can hurt your credit score by increasing your overall credit utilization if you’re carrying a large balance on your card. It’s marketed as a ‘credit builder’ option for exactly this reason. Great starter card. NewDay Ltd is also authorised by the FCA under the Payment Services Regulations 2017 (ref no: 555318) for the provision of payment services. EBL offers a range of Credit, Debit and Prepaid cards to meet the daily financial needs of both consumers and corporates. You can also ask your provider to increase your credit limit. A utilisation ratio of 10%, as in the above example, looks better on your credit report than a ratio of 95% because it shows lenders that you’re managing your money and that you’re not stretching your finances. The important thing to remember is – as far as your credit utilisation ratio goes, the less of your credit you’re using, the better. Bangladesh, 14TH EMPLOYER BRANDING AWARD BEST EMPLOYER BRAND AWARD 2019, Copyright ©2019 Eastern Bank Ltd. All Rights Reserved, International Business and Offshore Banking Unit, Disclosures on Risk Based Capital (Basel-III), Warning against illegal forex trading/dealing, All Card Related Payment: USD 1 = 85.4500, EBL Diners Club International Global Prepaid Card, Discount facilities at over hundreds of partnered merchants, Round the clock cash withdrawal facility worldwide at large Mastercard ATM network, Absolutely free Cash withdrawal from any EBL ATM, Access to shops & restaurants throughout the globe, Completed EBL Prepaid Card Application Form, Recent Passport Size Photograph of Applicant, Valid Passport is mandatory for endorsement for International Transactions. Aqua Cashback Rewards: The Aqua Reward Credit Card offers 0.5% cashback on purchases, capped at £100 a year. Reduce your rate over three years if you stay within your credit limit and pay on time; No extra fees on what you spend abroad Spending over your set limit may have negative consequences both now and in the future, which could include: If you have an Aqua card, we’ll send you a message if you’re getting close to your credit limit. Tandem’s Journey credit card, used responsibly, could help you to build or rebuild a positive credit history, and Tandem even states that credit limits (which are tailored to the individual) can be reviewed after just “a few months”. You must pay at least the contractual minimum payment every month, which is an amount equal to the sum of interest, default fees plus either 1%, 2%, 2.5%, 2.75% or 3.25% of the full amount you owe, as shown on your statement (minimum £5). Read AniyaLindsey's review of the Aqua Credit Cards - www.aquacard.co.uk , 18 of 229 Aqua Credit Cards - www.aquacard.co.uk reviews, & compare with other Credit Cards at Review Centre. This means when my spending hits £3,333.00 in a 12 month period and I’ve reached the maximum cashback, I stop using the card. EBL Mastercard Aqua Prepaid Card is an EMV Chip card, bundled with lots of benefits. All while you build a better credit score! We can help you start your journey to building a better credit score when you manage your account well. Aqua Advance reduces your interest rate over time. Aqua are charging me £12 every month as an overlimit fee despite the fact i am not using the card so technically i am not putting my account over the limit. A. What's an Aqua Classic credit card? The card provider might offer you a higher credit limit, once you’ve been with them for a while. Be aware that some credit cards charge a fee to increase your credit limit. If you apply for an Aqua card, the credit limit we offer will be based on your personal circumstances. Although they come with a higher Annual Percentage Rate (APR) than mainstream credit cards, they can be a gateway to more competitive products if you manage your account well and repay what you owe on time.. Aqua was launched in 2002 with the aim of helping people who may have been refused credit or overlooked by … Sticking to your limit is important for building better credit. Currently they have a 6 months balance transfer offer with 3% fee (minimum £3). Remember: a higher credit card balance means more interest . Aqua’s credit cards are designed to help you improve your credit score. The Credit One Bank Visa Platinum credit card, for example, may charge up to $49 when you request a credit limit increase. We continuously monitor your account and could even offer to increase your credit limit after four months of good credit behaviour. Kotak Mahindra bank, India's leading private sector bank offers a massive range of The representative APR is 35.9% for an assumed spend of £1,200 to be repaid over one year. You should do all you can to avoid going over your credit card limit. Manage your account anywhere, anytime, with our secure mobile app. Beware of Credit Limit Increase Fees . 100 Gulshan Avenue, Your credit report may be marked, which could make it harder to get credit in the future.   Aqua Card is great I moved to the UK recently, I applied for the Aqua card to build my credit score. However, if you’re planning a holiday and just want a bit more spending money, then increasing your limit might not be such a good idea. And, the First Premier Bankcard charges 25 percent of the increase each time you’re approved for a credit limit increase. Aqua is a trademark of NewDay Cards Ltd, which is used under licence by NewDay Ltd. How often do Aqua increase credit limits? aqua is part of the London-based NewDay group of companies, which is the credit card provider for some big high street names, including Debenhams, Topshop, Laura Ashley and Amazon. aqua credit cards are also on the Mastercard network, which means they can be used in more than 35 million places worldwide. a 0% offer on balance transfers. It only applies to credit cards and other forms of credit that don’t have a pre-determined end date, which means mortgages and loans don’t count, but it can still be an important factor in your credit score. How can an Aqua card help? Credit Builders don’t tend to come with much in the way of perks, but this card’s a bit of an exception. There’s no set amount of time for us to consider increasing your credit limit. Credit available only to UK residents aged 18 and over. Conditions Apply. Keep making your payments on time and stay within your credit limits, we'll drop your interest rate every year for three years. To give you an idea, we’ll provide an initial limit of between £250 and £1,200. Manage your account anywhere, anytime, with our secure mobile app. Your card provider may increase your APR. They form part of the NewDay group of companies. Please note that the information in this article is for information purposes only and does not constitute advice. Subject to status. Credit is provided by NewDay Ltd. NewDay Ltd and NewDay Cards Ltd are companies registered in England and Wales with registered numbers 7297722 and 4134880 respectively. Our cardholders can enjoy great lifestyle and travel benefits on their EBL Cards round the year. Terms apply. Our most popular credit card, the Aqua Classic could help improve your credit history. It’s worth thinking about why you want to increase your limit, how you’ll use any increased limit, and whether you’ll be able to make repayments. Yes – you can ask to reduce it at any time, for example, if you find you’re not spending anywhere near your credit limit. Representative (variable) Get Aqua Classic benefits, plus. This will depend on the terms of your individual credit card. I obtained a credit card from Aqua with a credit limit of £250 and it came on my birthday. What are the benefits of the Aqua Classic card? I have an Aqua credit card which currently has a £2000 limit, i am up to my limit and havent used it for 6 months, i pay around £75 per month and dont miss any payments. In this guide, we’ll help you understand how credit card limits are set, what you can do to increase and decrease your credit card limit, and whether you should. You can apply for a Aqua credit card with a limit of up to £300. The Classic Credit Card is apparently Aqua's most popular card and will consider those with poor credit, including the self-employed, individuals who've had trouble with late payments in the past and those with a low income. The registered office for these companies is 7 Handyside Street, London, N1C 4DA. It’s important to get in touch with your provider as soon as you realise you’ve gone over your limit and try to pay off the excess balance as soon as possible. If you’re happy with your existing limit or worried that a higher limit might tempt you to spend more, you can also reject any increase your card provider offers. Your card company may charge you a fee for going over your limit. Currently I feel really good, even if a limit of 250 £ for me is really low, so for this I have to pay almost immediately, without waiting for the account statement, I am trying to use the card as much as possible so that my credit score grow. To give you an idea, we’ll provide an initial limit of between £250 and £1,200. About Aqua credit limits If you apply for an Aqua card, the credit limit we offer will be based on your personal circumstances. I'd joined Aqua last year in December and they gave me a starting limit … EBL Mastercard Aqua Prepaid Card is an EMV Chip card, bundled with lots of benefits. , the credit limit we offer will be based on your personal circumstances. Reduce your interest rate as you use your card when you manage your account well. The minimum limit offered on the card is £250, while the maximum is £1,200. The Aqua Credit Card is marketed to people like me who have less-than-perfect credit. They may be licensed to provide credit card services but they are not competent. Starting credit limit from £250 to £1200. Initial credit limits run between £250 and £1,200. Each month you'll receive a statement from us showing where and when you used your aqua credit card, together with the amounts you spent. ... Hi, have looked into what sort of credit limits aqua usually offer to start with and it's between £250 and £1200. Alternatively, if you don’t want to increase your limit at all, you can ask your card company to opt you out of and increases. If aqua is able to offer you this deal, the offer will specify a personalised credit limit based on aqua's assessment of your situation. For example, if you only have one credit card with a limit of £500 and a balance of £50, your utilisation ratio is 10%. You can avail this card from any EBL Branch without having any account. What credit limit will I get with the aqua Advance Mastercard? For example, if you need to pay for essential repairs to your car but have worked out a repayment plan, then it might be sensible to increase your credit limit. You can avail this card from any EBL Branch without having any account. If it’s possible to go over your limit – it’s not a good idea. Click here to know more about the card and to apply for 811 #DreamDifferent Credit Card from Kotak Mahindra Bank to avail benefits. This will ensure more security, convenience and flexibility for making your everyday spending with a single card. However, you’ll only know your individual set limit once you’ve submitted a full application and have been accepted. You can also reload money whenever it is necessary. Your credit utilisation ratio (or credit utilisation rate) is the amount of credit you’re currently using divided by the amount of credit you have available to you. Read 229 customer reviews of the Aqua Credit Cards - www.aquacard.co.uk & compare with other Credit Cards at Review Centre ... Representative (variable) for Aqua Classic. Most providers will give the range of the potential credit limit they offer on a specific product. A bank or credit card issuer can generally lower (or increase) your credit limit at any time as long as it’s allowed in the credit card agreement. Now the reason for that is that the Aqua Reward Credit Card pays a healthy 3% cashback, but with an upper limit of £100 cashback a year. A credit limit is the maximum amount you can spend on a credit card. Dhaka-1212 Improve your credit score with an Aqua credit card, the cards for people with a poor credit history. NewDay Ltd and NewDay Cards Ltd are authorised and regulated by the Financial Conduct Authority (FCA) with numbers 690292 and 682417 respectively. Want a longer-term solution? This will ensure more security, convenience and flexibility for making your everyday spending with a single card. Your aqua online account lets you manage everything to do with your aqua card in one convenient place – from paying your balance to changing personal details. If you’ve been accepted and are not happy with the credit limit offered, you can choose to not sign the card agreement, but bear in mind that the application will still show up on your credit report. They say that using thier credit card will help build your credit score. *EBL reserves the right to request additional document(s) to ensure due diligence Credit utilization accounts for 30% of your FICO score , and a maxed-out card can lower your score by 45 points. With Aqua, you can do this using your Online Account Manager or using our automated customer service phone line. Aqua’s starting credit limits range from £250 to £1,200 depending on the card you go for and your credit profile. Aqua is a great credit card and has an… Aqua is a great credit card and has an easy to use App.They even gave me a credit limit increase shortly after I got the service..I'm very pleased in using Aqua and look forward to having and using my card.. To give you an idea, we’ll provide an initial limit of between £250 and £1,200. A relative offered me some money to buy some clothes as a present. We continuously monitor your account to see how you’re getting on and may increase your limit, so long as you’re making your monthly payments and sticking to your current credit limit. Failure to make payments on time or to stay within your credit limit means that you will pay additional charges and may make obtaining credit in the future more expensive and difficult. Reduce your rate over three years if you stay within your credit limit and pay on time. Most users are unlikely to hit this maximum however, as it would require spending £20,000 a year on your card—unlikely given the card's initial credit limit of £250 to £1,200. Your credit card provider may increase your credit limit from time to time, if you make your payments on time and stick to your existing limit.Â. Aqua card - The start card. Aqua is one possible option if you’re looking to build your credit rating and just looking for a few hundred pounds. Life flows better with EBL Cards! One thing they can’t do is lower your credit limit and then immediately slap you with an over-the-limit fee or penalty rate if you happen to exceed the new lower limit. On the other side, having a higher credit limit can help to show that you can be trusted with credit, but the bigger impact can be on what’s known as your credit utilisation ratio. Apply for 811 #DreamDifferent Credit Card at Kotak Bank in 3 easy steps. Aqua Advance. The APR applicable to your account will depend on our assessment of your application. Aqua credit card services are completely incompetent. Your card provider will set your limit when you take out your credit card but it can change depending on how you use it. Credit Card with interest free cash and up to 80% limit on term deposit is the best thing to go for. I figured that they’re more likely to accept my application as they market themselves as a credit builder credit card for people with poor credit.