Skip to main content

Aqua Credit Card Refunds

Established in 2002, Aqua specialise in providing credit to customers previously rejected by other lenders. If you’ve previously had an Aqua credit card and have struggled with repayments, you may have a claim so it’s best to check now.

Claim Now

Who are Aqua?

According to the Aqua Card website, the lender is particularly passionate about helping customers who may have been rejected for credit by other high street competitors. In fact, Aqua has several offerings for some of the professions and individuals that find it hardest to obtain a credit option.

For example, Aqua advertises to those who may have been denied credit in the past such as those who are self-employed, have an irregular income, and people with a generally low income.

What are Aqua credit card claims?

Concerning unaffordability, a customer must be able to cover monthly repayments without difficulty. In addition, credit card holders should be able to cover the cost of their regular outgoings in the form of household bills, other debts, and necessary expenses. For those with an unaffordable credit card agreement, the need to borrow more money across multiple months is fairly common. An example of needing to borrow more can arise when a credit card payment is needed to cover basic essentials such as groceries.

 

 

Who has a Aqua credit card claim?

Have you had a credit card with a high credit limit? If your limit was so high that your monthly repayments were hard to manage causing more debt, you may be entitled to compensation. When choosing a credit card most people are initially given a sensible limit. Unfortunately, investigations by the Financial Ombudsman Service have shed light on lenders in the past who have continued to increase a customer’s already high credit limit. For some customers, a legitimate unaffordability claim can be explored if their credit card lender was irresponsible in allowing them to borrow so much that the debt was unaffordable.

Credit Card Refund Check List

 

“Rules imposed by the Financial Conduct Authority mean any firm offering credit has an obligation to check your financial situation to make sure you could afford the credit they were providing, before
giving it to you.”

1

You should never have been approved

Your lender should've assessed your financial situation each time they increased your credit
limit. In addition, if you had a recent spell of high cost and short term lending, recent credit
problems in the form of missed payments they should have also taken greater responsibility.
The customer felt that they were pushed into making the wrong decision without complete understanding.
2

Your limit should not have increased

Your lender should not have increased your credit card limit if it was obvious you were currently
struggling to pay your existing repayments. In addition, if you were only making minimum
payments for an extended period of time or you were missing payments, they should not have increased the limit. Transactions that show gambling should have been noted before a credit increase as well as taking out payday loans to cover costs.
3

You should be able to cover necessities

Your credit was not affordable if it resulted in you being unable to make your monthly
repayments without difficulty. You should also have been able to cover your normal household running costs, expenses and any other debts.