Capital One Cashback question

sweetdaisy

I was successfull in my application for a Capital One Cashback Credit Card and received my card at the end of November. There is an introductory offer on the card where you can earn 5% cashback for the first £2,000 spent within 99 days.

I have only had the card for just under a month and have already spent £1,100 on the card (as I make all purchases by CC and pay the balance off in full each month). So I am going to reach the £2,000 well within 99 days.

So the questions I have are:

1. After I have spent £2,000 will I not be able to earn anymore cashback until after the 99 days is up?

2. The tier for cashback is £0 - £5,999 earns 0.5% cashback and then £6,000 - £9,999 pays 1 % cashback etc. However, after I have spent £2,000 does it mean that I only have to spend another £4,000 and I can earn 1% cashback or does your spend return to £0 after the 3 month introductory offer and will need to spend £6,000 before I can earn 1% on purchases?

Gromitt

I know (1) is correct, but I'm not sure about (2).

YorkshireBoy

sweetdaisy wrote: »

2. However, after I have spent £2,000 does it mean that I only have to spend another £4,000 and I can earn 1% cashback?

I don't have this card but that's my understanding having just read the information on their website.

sweetdaisy

Thanks for the replies.

LosEndos

I too have one of these 5% CBs and - thanks to Christmas - have now spend over £2000 in about 45 day! (Will now move back to Egg at 1% CB).

When does the £100 CB get applied? After th 99 days is up?

sweetdaisy

I opened my account in November and had my December statement a few weeks ago showing that my cashback was £56 for last month. That will be paid to me in my January statement (as cashback is paid once a year - every January). I am nearing the limit of £100 cashback within the 99 days offer period, so the remaining cashback will show on my February statement and I think I be paid this (along with all other cashback earnt thoughout the year) in January 2013.

LosEndos

Thanks - so I should get my full cashback this month. If not I will have to wait for a year, that would be annoying!

mrmajika

LosEndos wrote: »

Thanks - so I should get my full cashback this month. If not I will have to wait for a year, that would be annoying!

Whatever the cashback amount shows on your December 2011 statement will be credited on your January 2012 statement. Anything earned after your December 2011 statement date will be paid in January 2013.

LosEndos

I can't find any mention of cashback on my statement... Will drop them a message.

w211

I think, once the 99 days have gone, the rate goes back to £0 - £5,999 at 0.5% cashback, so you'd have to start again.

The £2,000 (or whatever) you spent in the first 99 days aren't included in the £0 to £5,999 spend.

LosEndos

Response from Cap 1:

The cashback amount is refreshed every statement period. Your rebate is credited to your account annually in January. The amount earned can also be viewed on your monthly statements under the ‘Account Summary’ section on the right hand side of page 1 of your statement.

I can confirm that you’ve earned £xx.xx as of 14 December 2011. The cashback amount will be credited to your account on 14 January 2012, including any cashback earned until this date.

I hope I’ve clearly explain this for you. If not, or you have any other queries, please send us a further secure message.

(Although I don't have a cashback bit in my account summary...!)