Cashback Credit Card Discussion Area

scarsdale

There has been comment Capital one have reduced their cash back to 0.5%. I phoned them this morning to learn this mainly applies to new applicants. If existing owners of the card receiving 1% have not been notified directly of a change then the 1% still holds good

Galstonian

The change was for "selected" customers. No information was offered on how customers would be selected but you are correct, the rate remains 1% until you are notified of any change. Still don't know if Martin's assertion above (that all customers will eventually be "selected") is true though.

lowri_2

>:(
I had a Barclaycard for a while, taking advantage of their deal for 0% finance whilst I paid off my debt - I've now closed it, but on my statements, only the last one mind you there was a "cashback earnt is £27.64". I wasn't able to find any information to help me get hold of this, so I emailed Barclaycard - and had no reply. So rang them yesterday and was told that the scheme ended at the end of 2004, and cheques for however much cashback you had would be sent out in Feb 2005! I double checked that given my account had been closed that I would still receive it, and was told that this was no problem at all. However, this morning, I find that Barclaycard have finally written back, and I quote

"You will only get cashback if you have taken out the associated balance transfer offer.[which i did...] If the your account closes, or is out of order when we are due to repay the cashback, it will NOT be paid."

Now I'm totally confused!  :o Can anyone help with this and tell me which version is actually true??

Cheers!

Lowri

Galstonian

Given Barclaycard's track record probably neither version is completely accurate but I would strongly doubt that any card issuer would pay cashback on a closed account, it simply makes no sense.

The only cashback for Barclaycard I can recall had horrendous strings attached, its possible that the cashback quoted on the statement was an error. If you have had interest free credit allowing you to get things sorted out then you've done well, I'd be tempted to just leave it but I guess a letter with a copy of the statement asking them to pay it only costs the price of a stamp.

dwileflunker

I don't know if this is cash back in the strictest sense of the word, but if you are prepared to take the cashback in the form of cash that can only be spent at Thomas Cook then the Thomas Cook credit card is pretty good. It offers 1.5% back on all purchases and, 2.5% on all spends at Thomas Cook, in the form of 'travel pounds'. The travel pounds can be used against any holiday or travel booked through Thomas Cook (but not foreign currency or travellers cheques) and is, therefore, reasonably flexible within that context. There is an annual maximum spend of £20,000, after which the cashback is no longer allowed, but I'm sure this will not affect the majority. You also are not charged a cash handling fee for obtaining foreign currency or travellers cheques when purchased through Thomas Cook which you are with most other credit cards, but by the same token you don't get the cashback either. If you can get a competitive holiday from Thomas Cook then their credit card is, in my opinion, good value. Their rates are nothing to write home about, but if you clear the balance every month then it's worth looking at, I've had many hundreds of pounds back over the last few years towards holidays.

Hope this helps.

realaledrinker

Similar situation witn the Co-op Bank Visa Travel Card. Min 5% discount off brochure prices for holidays booked with Travelcare Direct, 1% 'travel points' rebate agianst holiday prices for everything including balance transfers plus 6 months on 0% for balance transfers & purchases.

I have £75 off next years holiday through just the one BT transaction & intend using this as my main card for "cashback" once the 0% deal is paid off.

System

Is it possible to exploit cash-back on a credit card by raising a cheque from it? I realise that this would only be viable for larger credit limits as any gains would be offset by handling fees for the cheque transaction.
My problem is that I tend not to make purchases on my credit cards and I only use cards with 0% offers to invest the debt and keep the interest accrued at the end of the 0% term.

djblamire

Robert

I think this is what you're looking for
http://www.bankofireland.co.uk/personal_banking/credit_cards/

Do you know what rate of cash back is offered on this - I can't find any details information about it on their site.

Thanks
Daniel

System

Got my letter from Captial One today advising that cashback is being reduced to 0.5% from August statement onwards. Time to investigate the Amex Blue card, me thinks...

Galstonian

Do you know what rate of cash back is offered on this - I can't find any details information about it on their site.

Thanks
Daniel

Its listed on moneysupermarket:
http://www.moneysupermarket.com/cards/CardDetails.asp?CardId=848&feature=cashbacknew