aqua attracts 200,000 applications in first three months

aqua, the credit card business that helps people who are new to credit or customers looking to restore their credit ratings, has seen strong demand for its innovative cards with more than 200,000 applications in the three months since their launch.

aqua designed its two new cards to encourage and reward customers who manage their accounts responsibly. 

aqua Advance card, sees the APR drop from 34.9% to 19.9% over 3 years

aqua Reward pays 3% cashback (up to £100 per year) on all retail spending

Both credit cards also come with 0% exchange rate on travel spend.

aqua helps customers stay on track with a free SMS text alert service including monthly payment reminders and alerts telling them when they are close to their credit limit.

Along with the new launches aqua also lowered the initial representative rate on aqua Classic card to 32.9% APR from 35.9% APR. Customers can apply for all aqua cards at aquacard.co.uk.

SAV’s Chief Executive Officer James Corcoran said: “We designed the cards following consumer research showing strong demand for transparent and straightforward products which help people establish and improve their credit record while rewarding responsible customers.

“The response since launch demonstrates that access to credit remains a major issue for millions of creditworthy people who are often ignored by the High Street banks.”

aqua’s parent company SAV Credit, which also runs the Opus and marbles brands, plans further launches and product innovation in the next 12 months.