New 1% Cashback Visa Card

Sooler

realaledrinker wrote:

Still getting 1% from my Circle Card for the time being at least!

Is this a Capital One rebate card?
After the 6 month 0% period there is no grace period, purchases incur interest charged daily from the date of purchase. Purchase interest charges can outweigh the rebate.

omrud

theloft wrote:

Tried to apply on line to-day after receiving Martin's e-mail. Apparently their system is not currently receiving information back from the web applications and they are 'up-dating' their website. Hope to be up and running again by the week-end. Their Contact Us facility does not work either, so telephoned them on the freefoone number obtained on the 'say no to 0870' website.

I've just been through the online approval process (which took about three minutes) - it said I appear to qualify and that they would post me some forms to sign.

After that, I read the MoneySupermarket review. It says: "Direct Debit Facility Yes Minimum amount only". Is this really true? I'm not going to accept a card which won't Direct Debit me the full amount each month.

David

theloft

omrud wrote:

I've just been through the online approval process (which took about three minutes) - it said I appear to qualify and that they would post me some forms to sign.
After that, I read the MoneySupermarket review. It says: "Direct Debit Facility Yes Minimum amount only". Is this really true? I'm not going to accept a card which won't Direct Debit me the full amount each month.David

Totally agree, I have Direct Debit to ensure that balance is paid off each month, so will not be taking out one of these if that is the case. Is Martin aware of this drawback ??
PS. Omrud - I have looked on the money supermarket site and cannot find where it mentions Direct Debit. Can you point me to the right section ?

omrud

theloft wrote:

Totally agree, I have Direct Debit to ensure that balance is paid off each month, so will not be taking out one of these if that is the case. Is Martin aware of this drawback ??
PS. Omrud - I have looked on the money supermarket site and cannot find where it mentions Direct Debit. Can you point me to the right section ?

This is the page:

http://www.moneysupermarket.com/cards/CardDetails.asp?CardId=1292&feature=CashbackNew

When the paperwork arrives, I will phone and ask.

David

deemy2004

I prefer the 0% for 9 months.

https://www.citicards.co.uk/platinumbridge.htm

Always FIRST read the T&C
and THEN read them AGAIN !

deemy2004

Sooler wrote:

Is this a Capital One rebate card?
After the 6 month 0% period there is no grace period, purchases incur interest charged daily from the date of purchase. Purchase interest charges can outweigh the rebate.

The circle card is 1% cashback (for most) and you get about 50 days interest free period, hence no purchase interest if you pay the balance in full

Galstonian

AFAIK the circle card was 1% for all but this was reduced for most last year and is not available to new customers.

theloft

omrud wrote:

I've just been through the online approval process (which took about three minutes) - it said I appear to qualify and that they would post me some forms to sign. After that, I read the MoneySupermarket review. It says: "Direct Debit Facility Yes Minimum amount only". Is this really true? I'm not going to accept a card which won't Direct Debit me the full amount each month. David

Telephoned Citicards to-day and they state that " this is not correct, It used to be the minimum amount about 2 months ago, but now you can direct debit the minimum or the FULL amount each month." So I will be applying! If you wish to telephone, the free number is 0800 7837884 - just wait for the options, choose any other matters and then when they ask for your 16-digit number, do nothing, you will then be put through to Customer Services.

caelum

It says on the MoneySupermarket Interest Free Period details "56 days for purchases if you pay your balance in full and on time" but then it says "Interest will be charged on the full amount on a daily basis from the date of each transaction until such time as full payment is credited to your account". Is there an interest free period? If not it defeats the point of the cashback.

newfoundglory

caelum wrote:

It says on the MoneySupermarket Interest Free Period details "56 days for purchases if you pay your balance in full and on time" but then it says "Interest will be charged on the full amount on a daily basis from the date of each transaction until such time as full payment is credited to your account". Is there an interest free period? If not it defeats the point of the cashback.

That would be after the payment is due, so you would still get up to 56 days interest-free. So if you only made the minimum payment, interest would be charged and calculated on transactions from the date you actually made them.

I think its just pointing out the difference that interest would be calculated from the date you made the transaction, not the date the transaction reaches/appears on your account (since they are two very different things). I think you will find some credit card companies will calculate interest from the date the transaction reaches your account, but clearly there is more profit for them to make by calculating interest starting from the date the transaction happened.