Find help and support
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Money worries
Cost of living
A.
We understand you may be affected by the rising cost of living and we’re here to help if you need us.You can find useful tools, calculators and guides to help you keep on top of your money here - moneyhelper.org.uk/en/money-troubles/cost-of-livingIf you need support with the repayments on your account, please get in touch by visiting the ‘contact us’ section in your Aqua Mastercard app or Online Account Manager.There are also a range of organisations that offer free, independent money guidance and debt advice:
- StepChange - Debt advice and fee-free debt management
Call 0800 138 1111 or visit stepchange.org - Money Helper - Information and tools to help manage your money
Call 0800 011 3797 or visit moneyhelper.org.uk - National Debt Line - Debt advice, including specialist advice for self-employed
Call 0808 808 4000 or visit nationaldebtline.org - Citizens Advice - Advice on finances, consumer rights, benefits and more
Call 0808 223 1133 or visit your local Citizens Advice office
Help with repayments
A.
If your account goes over your credit limit, please make a repayment to bring it back within the limit as soon as you can. This can help avoid additional fees and interest.
If you’re unable to make an additional payment, please let us know so we can understand your circumstances – getting in touch won’t impact your credit file.Visit the ‘contact us’ section in your Aqua Mastercard app or Online Account Manager.If your account remains over your credit limit:
If you’re unable to make an additional payment, please let us know so we can understand your circumstances – getting in touch won’t impact your credit file.Visit the ‘contact us’ section in your Aqua Mastercard app or Online Account Manager.If your account remains over your credit limit:
- You may be charged a £12 fee or additional interest
- You won't be able to use your account to make purchases until it’s back within your agreed credit limit
- StepChange - Debt advice and fee-free debt management
Call 0800 138 1111 or visit stepchange.org - Money Helper - Information and tools to help manage your money
Call 0800 011 3797 or visit moneyhelper.org.uk - National Debt Line - Debt advice, including specialist advice for self-employed
Call 0808 808 4000 or visit nationaldebtline.org - Citizens Advice - Advice on finances, consumer rights, benefits and more
Call 0808 223 1133 or visit your local Citizens Advice office
Persistent Debt
A.
Our regulator, the Financial Conduct Authority (FCA) introduced rules in 2018 to help customers avoid long term debt, known as Persistent Debt.
Your account will be considered to be in Persistent Debt if you’ve paid more in interest and fees than you’ve repaid towards the amount you’ve borrowed, over an 18-month period. This usually happens when you pay the contractual minimum payment or an amount close to it, each month.
If your account is in Persistent Debt, it would take much longer to pay back what you owe and could cost you more in interest and fees. We’ll get in touch with you if your account is in, or close to Persistent Debt. We may ask you to pay a boosted payment or put your account on a Paydown Plan once you're in Persistent Debt. If you'd like to reduce your balance quicker and avoid going further into Persistent Debt, you can repay a little more each month, no matter how small - as long as it's affordable.
Your account will be considered to be in Persistent Debt if you’ve paid more in interest and fees than you’ve repaid towards the amount you’ve borrowed, over an 18-month period. This usually happens when you pay the contractual minimum payment or an amount close to it, each month.
If your account is in Persistent Debt, it would take much longer to pay back what you owe and could cost you more in interest and fees. We’ll get in touch with you if your account is in, or close to Persistent Debt. We may ask you to pay a boosted payment or put your account on a Paydown Plan once you're in Persistent Debt. If you'd like to reduce your balance quicker and avoid going further into Persistent Debt, you can repay a little more each month, no matter how small - as long as it's affordable.
A.
A PayDown Plan is set up to make sure your account doesn’t stay in Persistent Debt and to help you reduce your balance, so it can’t be cancelled. If the amount isn't affordable, please get in touch with us by visiting the ‘contact us’ section in your Aqua Mastercard app or Online Account Manager. We’re here to help and we’ll work with you to arrange another way to get back on track.
A.
If your account stays in Persistent Debt, we may move you onto a PayDown Plan to help you save on interest and fees in the long run. A PayDown Plan is set up to help you pay off your balance within a reasonable timeframe.PayDown Plans can be different depending on your balance and account status. If you’re placed onto a PayDown Plan, we’ll send a detailed letter explaining how much you need to pay and how the plan will work.
A.
If you'd like to reduce your balance quicker and avoid going into Persistent Debt, you can repay a little more, no matter how small - as long as it's affordable. To help you with this we’ve introduced a Boosted Payment, this is a higher repayment amount that helps your clear your balance faster and save on interest.If you’re struggling to make repayments, please get in touch so we can understand your circumstances and provide you with tailored support. Getting in touch won't impact your credit file.Visit the ‘contact us’ section in your Aqua Mastercard app or Online Account Manager.