Capital One World and question about cashback

thesaver79

I've just spoke with a Capital One customer service representative about cashback.

Until today I always thought the cashback worked in the following way. Forgetting about the initial promotional rate,

- For the first £5,999.99 you spend in a YEAR, you get 0.5% cashback
- Then for any other purchases within the YEAR up to £9,999.99, you get 1% cashback
- For any spending above £10,000, you get 1.25%

It seems that I was wrong. The operator told me that the thresholds are per month, and not cumulative throughout the year.

Am I the only one who misunderstood?

reclusive46

The person on the phone was wrong. The cashback is tiered annually.

exel1966

5% cashback on everything you buy for the first 99 days after you open your account. The most cashback you can earn in that period is £100.

For purchases made after the first 99 days from your account opening you will receive the following cashback:

0.5% cashback on all subsequent purchases up to the next £5,999.99

1% cashback on all purchases from £6,000 to £9,999.99

1.25% cashback on all purchases from £10,000

These rates are applicable until you reach the anniversary of your account opening, when you will begin earning cashback at 0.5% and your cashback rate will increase (see above) as your purchases pass each threshold.