Capital One World Cashback Card

sweetdaisy

Hi, just after some advice (sorry if it's a silly question ).

I am thinking about applying for the Capital One Cashback card and read that the cashback is paid once a year in January.

So, it is worth applying for the card after January, or does it not make a difference if I apply now?

Also, for anyone who has this card, do you see on your monthly statements how much cashback you have accumulated or do you just get your cashback figure in January?

Thanks in advance.

shiny76

sweetdaisy wrote: »

Hi, just after some advice (sorry if it's a silly question ).

I am thinking about applying for the Capital One Cashback card and read that the cashback is paid once a year in January.

So, it is worth applying for the card after January, or does it not make a difference if I apply now?

Also, for anyone who has this card, do you see on your monthly statements how much cashback you have accumulated or do you just get your cashback figure in January?

Thanks in advance.

Not had this specific card but have had a Capital One cashback card previously. It stated on each statement the total cashback you'd earnt 'to date' and then (IIRC) applied the cashback to my January statement, giving me X pounds off that month.

I see no reason not to apply for it now, especially if you'll spend more over the next 3 months than you would in the 1st 3 months of 2012!

roddydogs

No you dont see how much you've accumulated, but 1% is pretty easy to work out.

sweetdaisy

Thanks shiny76

sweetdaisy

roddydogs wrote: »

No you dont see how much you've accumulated, but 1% is pretty easy to work out.

When I looked at the cashback it is tiered. I think 5% for first 3 months, 0.5% for 0-£5.999, 1% for £6k - £9,999 and anything above £10,000 is 1.25% cashback.

OllyM

roddydogs wrote: »

No you dont see how much you've accumulated, but 1% is pretty easy to work out.

Not true - the statements show how much cashback you have earned.

sweetdaisy

I think it maybe best to apply in January as on the anniversary of opening the card you cashback rate drops back to 0.5% until you get to £6,000 then it goes up to 1% and so on.

So, if I open an account now, any Christmas gifts bought in December 2012 will only get 0.5% cashback, but if I open the account in January as I would have spent over £10,000 on a credit card by then (and still within my anniversary of opening the account) I would be able to get 1.25% cashback.

Is that right? Is that how it works? (Sorry for the questions , just want to make sure before I apply).

shiny76

sweetdaisy wrote: »

So, if I open an account now, any Christmas gifts bought in December 2012 will only get 0.5% cashback, but if I open the account in January as I would have spent over £10,000 on a credit card by then (and still within my anniversary of opening the account) I would be able to get 1.25% cashback.

Is that right? Is that how it works? (Sorry for the questions , just want to make sure before I apply).

But the presents you buy in 2011 will not attract any cashback (assuming you don't have another cashback card) whereas if you opened it now then you'd get 5% on those presents. That's got to be better than aiming for 1.25% for next years presents, isn't it?

or did I miss something?

OllyM

Also why does it matter what you earn the cashback on? Over the course of a year it makes no difference - if you buy presents at 0.5% you just reach the 1% band quicker and so on. You earn the same amount of cashback over the course of a year.

sweetdaisy

shiny76 wrote: »

But the presents you buy in 2011 will not attract any cashback (assuming you don't have another cashback card) whereas if you opened it now then you'd get 5% on those presents. That's got to be better than aiming for 1.25% for next years presents, isn't it?

or did I miss something?

Sorry I didn't explain it well. I have already done my Christmas shopping so have no more presents to buy.

roddydogs

sweetdaisy wrote: »

When I looked at the cashback it is tiered. I think 5% for first 3 months, 0.5% for 0-£5.999, 1% for £6k - £9,999 and anything above £10,000 is 1.25% cashback.

Sorry, im on the old "1%" for everything card, but using online statements only, I cant see any accumulated cashback amount.