Capital One Cashback Offer

amtrakuk

Hi,

Just been onto Capital One regarding my Cashback Payment, or lack of it as the case may be. I took the card out earlier this year (March '08 time) so I could take advantage of the cash back offer whilst I was on secondment for 6 months, hotels, dinners etc. In October '08 due to not using the card anymore I decided to pay off the balance and close the account. Whilst I was on the phone to Capital One closing my account I asked how I could claim my cashback offer. I was told a cheque would come though at the end of the year.

Earlier today I phoned up Capital One and explained the situation to the call centre. I was told because you have closed the account I was no longer eligible for the cashback offer. I asked for clarification, explaining I must have misunderstood what he said. It was like a kick in the teeth, a "This is what you could have won" situation. Despite answering all the security questions the operator said he is unable to even give me the account number. Due to Personal Identity Theft I check every new statement and destroy it.

At no time when closing my account was I told I would not get the cashback reward I had accumulated. If I was told this obviously I would have kept a zero balance and waited my cheque before closing the account.

So far I have a letter of complaint written waiting to be sent off recorded delivery tomorrow asking for the money I accrued. Has anyone else had this experience?

CLAPTON

Although I have no specific knowledge of Ca one, it's normal for cashback or reward cards to require you to keep the card open to receive the cash/rewards.

Gorgeous_George

It's in the T's and C's (link).

Product terms and conditions:
Cashback will be payable annually in the month of January and will be credited to your account unless we notify you of another method. No Cashback will be paid to you if at that time you are in default under the terms of this agreement. However the amount of that year's Cashback will accrue and may be payable in a following year. No Cashback will be payable if this agreement is terminated or this account is closed. For a Platinum Cashback card all applicants must be aged 21 or over, resident in the UK and receiving an income of more than £10,000 per annum. Credit is available subject to status and conditions.

How much would you have received?

Sounds like you made a mistake but so did the call centre operator. I guess the operator has a list of FAQs.

Q. How is my cashback paid?

A. Cheque at the end of the year

Q. Can I close my account?

A. Yes

The two questions were probably answered in isolation. I'd write and ask that they consider reopening the account and paying the cashback as you were badly advised over the phone. Probably write it off to experience if they refuse (which I expect they will).

GG

amtrakuk

Oh well... If thats the Ts and Cs then I wont bother pursuing I feel abit cheesed though. She should have warned before. I will have to write it off. It would have been about 150.00

LongTermLurker

As the others say, it's normal practice and in the Ts & Cs, so unfortunately I wouldn't bother sending the letter as I don't think it'll get you anywhere at all. Some things just aren't worth pursuing

Gorgeous_George

I'd send a letter.

For the price of a stamp and a few minutes writing a couple of paragraphs you could earn £150. Worst case, you lose about 40p (stamp, envelope etc.).

GG

Merlinexcalibur

Just quickly read this. Capital One are famed for ignoring letters. But also call centre staff not being clued up. So, it's really a case of 'what one says the other might say differently'. Not a good advert for quality but there you go.

amtrakuk

I know exactly what they'd say, refer me to the Ts and Cs. I will know for next time. I only took the card out for "free cash" as I was on secondment, the company pays the bill. Personally I look out for the Interest Free offers

LongTermLurker

amtrakuk wrote: »

I know exactly what they'd say, refer me to the Ts and Cs. I will know for next time. I only took the card out for "free cash" as I was on secondment, the company pays the bill. Personally I look out for the Interest Free offers

To be honest, I think you should have kept the card open, because Capital One offer excellent fraud protection and access to your credit file. For that reason alone, unless your credit rating means you'd struggle to get a second card, I'd recommend keeping it and not using it. You can always ask them to reduce your limit (though don't be surprised if they won't increase it back again later, but that's another story :mad:).

Sometimes a letter can get results if they think it will entice you to stay, but you've already left - you're an has-been and there's no benefit to them in being nice to you.

YorkshireBoy

LongTermLurker wrote: »

I think you should have kept the card open, because Capital One offer excellent fraud protection and access to your credit file.

...and also for the section 75/chargeback features for big (and not so big) ticket items.

jccaird

Nothing about Cashback, but I just contacted Capital One to try and get a better interest rate on my card - currently 26.48% - I was told that in April that is rising to 34.9% - the letters should be going out soon, I was reliably informed. I've closed the account now as there is an opt out date of 28th Feb.