Reclaim interest and charges from an Aqua credit card
Aqua (part of NewDay) markets itself as a card for rebuilding credit, which means it deliberately lends to people with patchy histories. That makes affordability checks matter even more. Under the FCA's CONC rules, Aqua had to make a reasonable assessment of whether you could sustainably afford repayments before opening the account and before any significant credit limit increase. If it lent into clear difficulty, repeatedly raised your limit while you were making minimum payments or falling behind, or ignored signs you were struggling, that can be irresponsible lending. You send the complaint yourself and keep the entire refund, no claims firm needed.
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Under FCA rule CONC 5.2A, a lender must carry out a reasonable creditworthiness and affordability assessment before lending and before any significant limit increase. CONC 6.7 covers persistent debt, where over an 18-month period you've paid more in interest, fees and charges than you've cleared off the balance; Aqua should then prompt you to pay more and, at the 36-month stage, consider forbearance which may include reducing, waiving or cancelling interest, fees or charges. Where lending was unaffordable, the remedy the Financial Ombudsman normally applies is a refund of all interest, fees and charges from the point it became unaffordable, plus 8% simple interest a year on those sums, plus removal of any related adverse entries on your credit file. Aqua (NewDay) has 8 weeks to give a final response. If it refuses or doesn't reply, you can escalate to the Financial Ombudsman Service for free, usually within 6 months of that response.
Step by step
- 1Get your full history. Send Aqua (NewDay) a Subject Access Request or ask for a full statement of account showing your opening limit, every credit limit increase, and all interest, fees and charges over the life of the card.
- 2Submit a written complaint stating you believe the card and any limit increases were unaffordable. Reference any missed payments, long runs of minimum-only payments, or other debts at the time, and ask for a refund of interest and charges plus removal of negative credit markers.
- 3Wait out the 8-week deadline. NewDay must send a final response within that time. Don't accept an offer that quietly ignores limit increases or leaves off the 8% interest.
- 4If rejected or ignored, refer it to the Financial Ombudsman Service within 6 months of the final response. It's free, and the ombudsman can order the full refund and credit file correction.
What they'll say, and your comeback
“Aqua is a credit-builder card, so a low limit and high interest are normal and expected.”
Comeback, Being a credit-builder product doesn't lower the CONC 5.2A duty to check affordability. If anything, lending to someone rebuilding credit demands more care. The question is whether the repayments were sustainably affordable for me, and you need to show your checks.
“We sent you persistent debt letters, so we met our obligations.”
Comeback, Sending the letters is only part of CONC 6.7. If after 36 months I still couldn't repay in a reasonable period, you were required to consider forbearance, which may include reducing, waiving or cancelling interest, fees or charges, not just keep charging me. Please address that.
“The credit limit increases were optional and you could have opted out.”
Comeback, The duty to assess affordability before a significant increase sits with you under CONC 5.2A, regardless of opt-out. If I was already showing signs of difficulty, raising my limit wasn't a fair lending decision, and I'm asking you to refund the interest and charges that flowed from it.
FAQ
Aqua is run by NewDay. Who do I actually complain to?
You complain to NewDay, which operates the Aqua brand. Address it to Aqua's complaints team and it will be handled by NewDay. The same FCA rules and Financial Ombudsman route apply either way.
I've already paid the card off and closed it. Can I still claim?
Yes. A closed or repaid account doesn't stop you complaining about unaffordable lending. You'd be reclaiming the interest and charges you paid while the account was open, plus 8% interest on top.
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A self-serve tool, not a law firm. General information, not legal advice.