Written on: 23/04/2012 by ihearthomos
When I was 19 I was foolish with credit, I forgot to pay off a store card and my bank did not bring my mobile contract over to my account (as I wasn't using it I didn't notice). I didn't watch what was coming in an out of my account, taking money out of cash machines was like Russian roulette, I would close my eyes and hope for the money dispensing noise.
I paid everything off in full when I realised what had happened, but it was too late.
Now I am 3 years older, over the last 2 years I have come to be a different person with money and have realised the value that a good credit rating will afford me when I come to buy a house. I applied to several places for credit over the last year, I couldn't even get a phone contract. In January I was offered a card with capital one but they wanted a £200 deposit. The money wasn't an issue so to speak, my fear was with the economy how it is if CO went out of business I may loose the money.
It was by chance that I stumbled upon Aqua, I saw an advert banner online. I applied not expectant of anything, to my shock I recieved a card with the minimum allowance of £250. There was no hassle, no extra information, no deposit. Setting up the card was very easy using their 0800 number. I can log online at anytime and view my purchases. The only down side is I wasn't told about paying a cash advance fee for betting (once a year on the Grand National) but as it isn't a regular thing and it won't happen again on the card it is simply a lesson learnt.
Overall things have been good so far, touch wood. I have been paid today and opted to pay off a large chunk of my card before the bill comes. I am not sure how this will pan out. There are still 2 items on the card that have not processed yet which I am itching to pay off also. My intention is to use the card for purchases and then pay it off towards the end of the month using the money I would have normally spent (which will be earning interest in my bank). As far as I am aware as long as the balance is paid off in full each month I will avoid any interest on what I have spent.
Having a credit card in my purse appears to have helped me rebuild my credit rating as earlier this month I was approved for a phone contract with o2. I shopped around and got the handset I wanted at a low tarrif, last year when applying for phones the only place that would take me was 3. They wanted a £100 deposit, which I was willing to pay and did pay but there was an error involving them having made 2 accounts for me. Safe to say I opted not to have them as my network provider.
I fully recommend aqua to anyone who is struggling to get credit, I have given 4 stars as it has only been a short time so I do not want to be too over optimistic.
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