1% cashback at Capital One!

bignoise

Presumably it's no use to existing Circle Rebate cardholders who've had their cashback slashed, but it seems that new customers can still get 1% cashback if they apply for the Classic Mastercard..

Compare the page you get if you just visit the Capital One site:

http://www.capitalone.co.uk/web/templates/product_temp_01_001.jsp?page_id=103&context_id=2&pageId=103&product_id=42

.. with the page you get if you click on the banner ads running on some websites:

http://www.capitalone.co.uk/web/templates/product_temp_01_001.jsp?page_id=103&context_id=2&pageId=103&product_id=128

Seems that for Capital One, being a loyal customer has never been worth less...

(Admittedly the Classic Mastercard does come with a punishing interest rate of 29.9% APR, less favourable than Circle Rebate, but who in their right mind carries a balance on a cashback card anyway?)

charlie12

Wow, good find. I recently got a Classic card (without cashback) a month ago to build up my credit rating. Just missed this deal :-/

Great deal, assuming that you pay off the balance in full each month of course.

pin

I've just looked at the T&Cs for both pages, they seem to be identical. Also both mention a 1% rebate:

25. Rebates. You will be enrolled in the Capital One rebate programme. You will receive a rebate of 1% on all purchases you make using your card. The first rebate will be payable in January 2005 and thereafter on an annual basis and will be credited to your account unless we notify you of another method. No rebate 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 rebate will accrue and may be payable in a following year. No rebate will be payable if this agreement is terminated or your account is closed. No rebate will be made in respect of cash withdrawals, balance transfers, or purchases which are refunded by the retailer. We may change the rules of this programme. We will tell you about any change.

Milarky

This was what I saw in a leaflet some time ago. So Capital One will offer 1% cashback on the basis that the card is 'subprime'. Not a problem if you set up a whole balance Direct Debit, though.

djblamire

Anyone know anything else about this. ??

I've been speaking to Capital One about this today, and they knew nothing of it - They are telling me that this is an old offer that is no longer valid.

Daniel

bignoise

It was being promoted in banner ads on ebay.co.uk at least as recently as last Friday. It can't be that old.

pin

Has anyone attempted to apply for this (i.e. with the 1% cashback?)