Aqua Payday Loans – Are You Eligible For Compensation?

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aqua credit card problems payday loans

If you have a credit card from Aqua, you may be eligible for compensation. This compensation is given to customers who were mis-sold their financial product. This is particularly relevant if the financial product has caused problems in repayments, or the customer gambled on it. In one example, New Day increased a customer’s credit limit without knowing about the customer’s gambling problem. The company has since acknowledged their mistake and apologised for the issue.

Aqua’s Classic card

While Aqua’s credit card offers a 48-day interest-free period on purchases, the same cannot be said for balance transfers and cash advances. Users who fail to pay on time can be charged a late payment fee of PS12, which may be a barrier for some people. To help you avoid this, consider signing up to a debt help organization. They may be able to negotiate a lower balance or even a debt write-off of up to 83%.

If your credit history is less than perfect, Aqua’s credit card may be a good option. While the company is aimed at customers with no or bad credit history, it will evaluate your current financial situation and assess your borrowing needs before offering you a credit card. This credit card will help you rebuild your credit history and lead to more borrowing options in the future.

Drafty’s line of credit

The line of credit provided by Drafty is designed to help you get a small amount of money without any hassle. The lender will issue you with a credit line of PS3,000, which will sit in your Drafty account until you withdraw it. It has a low daily interest rate of 0.18%, which is one of the lowest in the market. However, it is important to make sure that you make all your repayments on time to avoid damaging your credit rating.

The line of credit can be used to withdraw up to PS3,000 in just 90 seconds. To use this service, you must have a checking account and internet access. You can use the mobile app or the website to access your account. You can also check your account balance and request additional funds at any time. The funds will be sent directly to your bank account within 90 seconds. You should only withdraw the amount that you can repay in a month.

Balance transfer cards

If you have trouble repaying your payday loans, it’s worth considering asking for help from a debt help organisation. You may be entitled to a discount on the total amount owed or even an 83% debt write off. But before you try to apply for compensation, you should consider the consequences.

Aqua credit cards are generally designed for people who don’t have good credit or have had problems in the past. The company will assess your situation and may approve you despite a poor credit history. They also promise that they will give you fair credit limits. While these types of credit cards are great for building up a good credit score, they are not the best option for people who need money urgently.

Reward card

The Financial Ombudsman Service (FOS) has sided with customers in several disputes with Aqua credit cards. The organisation found that the lender incorrectly lent money to people on benefits and problem gamblers. In the past three months alone, the FOS ruled in favour of Aqua customers in nine of its decisions. One of those decisions is about a customer who took out a New Day credit card with a PS450 credit limit in June. He subsequently used the money for gambling.

The Aqua credit card is issued by NewDay, one of the largest credit lenders in the UK. It advertises that its credit limit is fair and it works for self-employed and irregular income people. However, if you need cash quickly, an Aqua credit card is not for you.