Experienced a financial setback? The aqua Advance credit card gives you the opportunity to prove it’s in the past.
You start by paying 34.9% APR, but you’ll soon get the chance to reduce your rate of interest by 5% each year for three years, providing you’ve been managing your account carefully.
So long as you pay at least the minimum amount due on time and keep within your credit limit, you could end up with an APR of just 19.9% in three years. But that’s not all. It could also help to improve your credit rating.
You also enjoy:
- No fees on spend abroad
- An initial credit limit between £100-£1,200
- SMS reminders so you need never miss a payment
- UK-based, 24-hour customer helpline
- Manageable monthly payments and flexible payment dates
- Online account management
Great news, you’re nearly ready to apply for your aqua Advance credit card. Before you do, please read the information below which summarises the key product features.
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.
|APR || |
- Representative 34.9% APR (variable)
|Other APR's || |
- APR’s (variable) 39.9%, 44.9% & 49.9%
|Interest Rates ||Introductory Rate ||Monthly Rate ||Annual Rate |
|Purchases ||N/A ||2.527% or 2.840% or 3.141% or 3.432% ||34.91% or 39.94% or 44.93% or 49.91% |
|Cash Advances ||N/A ||2.840% or 3.432% or 3.717% or 3.992% ||39.94% or 49.91% or 54.95% or 59.95% |
|Balance Transfers ||N/A ||2.527% or 2.840% or 3.141% or 3.432% ||34.91% or 39.94% or 44.93% or 49.91% |
Provided you pay at least your minimum monthly payments on time, you do not exceed your credit limit and have not told us you want to close your account, then on the day after your ﬁrst, second and third anniversaries you will receive a 5% reduction in the standard interest rates applicable on that date to all transactions. Otherwise, we may apply the standard interest rate to all transaction before the end of the special promotion period.
|Interest Free Period || |
- Maximum 51 days for purchases if you pay the full balance shown on your previous and current statement on time.
- There is no interest free period on balance transfers.
|Interest Charging |
|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 your purchases. If you do not pay the total
balance shown on your statement each month, we will add the interest charges to your next statement balance. |
| ||From ||Until |
|Purchases ||Date debited to your account ||Paid in full |
|Cash Advances ||Date debited to your account ||Paid in full |
|Balance Transfers ||Date debited to your account ||Paid in full |
|Allocation Of Payments ||If you do not pay off your balance in full we will allocate your payments to balances with the highest interest rate before balances with lower interest rates. See section 2.2 of the terms and conditions for full details. |
|Minimum Repayment ||
Each month in which you have a balance outstanding on your account you must repay an amount equal to the total of any interest, default sums plus 1% of the balance shown on your statement (minimum £5.00, or the full balance if less than £5.00) plus the amount of any arrears, which are repayable immediately |
|Credit Limit || |
|Minimum Credit Limit ||£100 |
|Maximum Credit Limit ||Subject to status |
|Fees ||No Annual Fee
|Charges || |
|Cash Advance ||3% (£3 minimum) |
|Balance Transfer ||3% (£3 minimum) |
|Copy Statement ||£5 |
|Foreign Usage || |
|Default Charges || |
|Late Payment Charge ||£12 |
|Over Limit Charge ||£12 |
|Returned Payment Charge ||£12 |
|Cost of Borrowing |
Interest Explained - based on the representative APR for purchases as indicated above
|We would not recommend paying only the minimum payment. Only making the minimum payment maximises the interest you will pay and length of time it will take to clear your balance, as highlighted in the example below. |
|Illustrative example ||For a purchase of £1,000 on your credit card... |
|Monthly Payment ||Minimum Payment each month ||£50 each month |
|Taking into account any introductory rates, how much interest will you be charged in the first year ||£291.00 ||£266.00 |
|How much interest will you be charged in the second year? ||£257.00 ||£150.00 |
|How long would it take to clear the balance? ||19 years 11 Months ||2 years, 6 months |
As 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 34.9% APR (variable), 39.9% APR (variable), 44.9% APR (variable) or 49.9% APR (variable). Your interest rate for balance transfers will be the same as for purchases. 51% of customers are offered our best rate of representative 34.9% APR (variable).