Capital One Aspire - now unlimited cashback?

James_Lahey

I applied for one of these to put a £2k family holiday on (@ 5% cashback) - earning the yearly maximum of £100. Just received this email from them -



After 3 months at a hefty 5% it reverts to only .5% cashback, it seems after a quick scan of terms that you can get a better % depending on how much you spend?

Not my best card (as I've had it over 3 months, but if this also applies for new members - fill yer boots!)

My credit score is pretty good - but I hear this is one of the easier cards to get if yours isn't great.

edit: read terms carefully - I always pay in balance full and never go over the limit, check the terms for what invalidates cashback earnings (also a rather steep interest rate if memory serves me.)

InsideInsurance

They are advising you that you are now in your unlimited period - in the first 3 months they limit it to £100 whilst they give you the higher rate.

As you say afterwards the rate is tiered depending on your spending.

James_Lahey

InsideInsurance wrote: »

They are advising you that you are now in your unlimited period - in the first 3 months they limit it to £100 whilst they give you the higher rate.

As you say afterwards the rate is tiered depending on your spending.

Thanks for that - iirc the terms at the time stated £100 was the maximum yearly earnings irrespective of rates (which is why I don't use it after maxing out the at higher rate.) I've had this card for over 5 months now - although now only use for small amounts monthly to keep it active.

InsideInsurance

Are you sure? I took mine out May and it was unlimited back then after the introductory bonus period

James_Lahey

I thought that I saw terms say max £100 per year although admittedly might have misread that (as I will often only skim through them.)

I also got my card in May(just checked) and this is the first time they've mentioned the unlimited cb - you are probably right and they are just reminding me to use it again now (after a couple of months of 1 amazon book per month.)

InsideInsurance

It is evidently an after the event thing as your email shows you've already exceeded £100

Whilst I am not the best marketeer in the world if I was going to be introducing something like unlimited cashback I would send out the email before it happened to get people spending now, create PR etc. Alternatively if I was going to introduce it but backdate it then I would make a big thing in my email about how great we were because we were not only removing the limit but actually backdating this for the last X days/ weeks/ months

James_Lahey

You're quite right - strange that i've amassed 31p of cb extra @ .5% that would equate to £62 spent? As mentioned the only spending I've done since the 3 months is a 1p + £2.80 p+p book per month. Gotta go out now but will check statements when I return.

Thanks again II for clarifying this

miketaff1408

James_Lahey wrote: »

You're quite right - strange that i've amassed 31p of cb extra @ .5% that would equate to £62 spent? As mentioned the only spending I've done since the 3 months is a 1p + £2.80 p+p book per month. Gotta go out now but will check statements when I return.

Thanks again II for clarifying this

It possibly could be like the amex platinum cashback card. That limits you to a maximum of £100 cashback in the first 3 months at the rate of 5%. However, once you have earnt that £100 by spending £2000, anything else you spend STILL earns you cashback inside the 3 months, but at the normal rate of 1.25%.

So if you spent just over £2000 on your card, you may have received your £100 @5% , and then 0.5% on anything extra.

James_Lahey

Update on this - no extra cashback during the 3 month period (but good guess Mike.)

II was correct - I have spent £62 since the 3 months were up - I put the car insurance adjustment on the card (£47 for last month on a policy, for a car that was only £50 more based on a whole years insurance :mad: must have forced myself to forget that fee!)

Blue_Max

Aqua card gives 3% cashback and it is not limited to 3 months.
You get £100 max cashback every year.
But credit limit is £500 and interest rates can be as high as 45% APR.
I have held a a CapitalOne MasterCard World for few years.
it pays 1% cashback with no fees. But I don't use it anymore; many other credit card deals worth hundreds!

InsideInsurance

miketaff1408 wrote: »

It possibly could be like the amex platinum cashback card.

It's not, no matter how much you spend in the first 3 months its capped at £100, something I didn't realise when I applied :mad: but then I wanted it for places (and one large planned transaction) that don't except Amex and I couldnt spot any better options elsewhere given I wanted a single £4,000 transaction on non-amex