Approval for any credit card will depend on your status. The APR shown represents the interest rate offered to most successful applicants. Depending on your personal circumstances the APR you're offered may be higher, or you may not be offered credit at all. Fees and rates are subject to change without notice. It's always wise to check the terms of any deal before you borrow.
aqua Advance credit card review January 2020
A “credit-builder” card with an interest rate that drops over timer – provided you use it responsibly.
aqua offers a range of credit cards for those with poor or limited credit histories, who might struggle to get approved for more mainstream cards.
Finder rating: ★★★★★
Doing its job: 5/5
In a nutshell:
Foreign transaction charge
|Min. credit limit||£250|
|Max credit limit||Not specified|
|Credit limit note||Subject to status|
|Purchases interest-free period (days)||48|
|Additional cards available||1|
Chris Lilly is a publisher at finder.com. He's a specialist in credit-based products including business and personal loans, mortgages and credit cards, and is passionate about helping UK consumers make informed decisions about their borrowing. In his spare time Chris likes forcing his kids to exercise more.
The aqua Advance Mastercard is a “credit-builder” card with slightly more favourable terms than others in aqua’s range. It may well be designed as a next step from aqua’s other cards, or for applicants with slightly better credit histories (although all aqua’s cards are designed with poor or limited credit histories in mind).
Credit builders tend to have a more lenient application process than other cards, but higher interest rates. As a result they’re often treated as a “stepping stone” product to cards or loans with better rates. If you clear your balance in full each month, however, the rate doesn’t matter – you’ll be able to take advantage of the card’s “grace period” of up to 48 days of 0% interest on your purchases each billing cycle.
With the Advance card, you can work towards bringing your interest rate down over time by showing you can make your payments on time and stay within your limits. Using any credit card in this way can also help you to build or rebuild a positive credit history. Other tools to help you improve your credit include text alerts and a decent mobile app, plus free access to CreditView services.
How does this card compare with other credit-builders?
When it comes to repayments, you can make manual repayments online or over the phone (0333 220 2691), or alternatively set up a direct debit. A direct debit is a great idea because it protects you from forgetting to make a repayment and either damaging your credit score, getting hit with a penalty fee or losing any promotional rates as a result. You can arrange a direct debit for repayments when you apply for the credit card. The table below shows the options available.
Choose from the following direct debit options for your monthly repayments:
|Minimum amount||Fixed amount||Fixed percentage||Full amount|
How to apply for the aqua Advance Mastercard
If you’ve compared cards and want to apply, completing the secure online application form takes about 15 minutes. Before you apply, check that you meet the eligibility requirements and have the information and documents you’ll need to make the process as straightforward as possible.