Capitalone 5% cash back for the first three months

adindas

I have seen quite a few advertisement, the Capitalone provide 5% cash back for the first three months.

Is there any catch such as monthly/yearly fee, minimum monthly spending limit etc?
Why they could effort to provide 5% cask back?

sweetdaisy

adindas wrote: »

I have seen quite a few advertisement, the Capitalone provide 5% cash back for the first three months.

Is there any catch such as monthly/yearly fee, minimum monthly spending limit etc?
Why they could effort to provide 5% cask back?

No catch. There is no annual fee or minimum monthly spending limit but their cashback is tiered. I have just received my Capital One Cashback Card and they are paying 5% cashback for the first 99 days or 1st £2,000 spent on the card - which ever you get to first.

Then after the 5% introductory offer ends 0.5% cashback is paid for any spends between £0 - £5,999, then 1% paid between £6,000 - £9,999 and then 1.25% unlimited cashback once you go over £10,000+.

Then every year, on the anniversary of when you opened the account, the cashback returns to 0.5% and the tier starts again.

When I recieved my card in the post I was initially under the impression that the card would be officially 'opened' when I activiated it, however was told that the 5% introductory offer had started a week earlier when they had accepted my application for the card - so by the time the card arrived I had already missed one week of the 5% offer .

adindas

Thank you
Consider applying to go for it ...
Any other opinion advtages and disadvantages of having this credit card ...??

sweetdaisy wrote: »

No catch. There is no annual fee or minimum monthly spending limit but their cashback is tiered. I have just received my Capital One Cashback Card and they are paying 5% cashback for the first 99 days or 1st £2,000 spent on the card - which ever you get to first.

Then after the 5% introductory offer ends 0.5% cashback is paid for any spends between £0 - £5,999, then 1% paid between £6,000 - £9,999 and then 1.25% unlimited cashback once you go over £10,000+.

Then every year, on the anniversary of when you opened the account, the cashback returns to 0.5% and the tier starts again.

When I recieved my card in the post I was initially under the impression that the card would be officially 'opened' when I activiated it, however was told that the 5% introductory offer had started a week earlier when they had accepted my application for the card - so by the time the card arrived I had already missed one week of the 5% offer .

chanz4

capital one are not that bad of a issuer, but very poor for limit increases

Jammi

adindas wrote: »

Any other opinion advtages and disadvantages of having this credit card ...??

You get free Equifax Credit watch membership and two free credit reports a year. These benefits would normally cost £3.99 per month. You would need a perfect credit history. Check out Capital One's definition of "perfect" on its website.

sweetdaisy

chanz4 wrote: »

capital one are not that bad of a issuer, but very poor for limit increases

I am not sure how much of a credit limit they usually give, however I consider myself to have a good credit rating, have never been in debt or missed any payments and Capital One gave me their Cashback card with a credit limit of £10,000.

chanz4

your missing my point I said increases

sweetdaisy

chanz4 wrote: »

your missing my point I said increases

My apologies. I mis-read your post .

Mutton_Geoff

Be careful of the little trick with future cashback after you have spent up to the initial cashback limit. You will get £100 cashback for spending £2,000 in the first 99 days but you won't get any more cashback on any other spending until after the 99 day period, then it is tiered.

If, like me, you used it to put your Christmas shopping on and have now reached the cashback limit, there is no point using this card anymore until after the 99 days. I've switched all other spending to the Barclaycard that replaced my Egg card as that's the usual 1% on everything.

u704446

£15.45 cashback thru TopCashBack. Also now £10 credited if you apply by 6th Jan. Maybe possible to get both?