Barclaycard Cashback - Exactly how the caps work?

antispam246

This is baffling me, I've looked around and found no definitive answer and Barclaycards own t&c's aren't helping. I've read threads where people have contacted Barclaycard and again no definitive answer. I'll give this a try myself but figured I'd ask here first.

The T&c's state

BC wrote:

4. Earning Cashback
4.1 Standard cashback: You will earn cashback at the rate of 0.5% on all Eligible Purchases you make in any Cashback Year.
4.2 Additional cashback: If you make at least 15 Eligible Purchases during any Statement Period, you will earn additional cashback at the rate of 1.5% on your Top Purchases for that Statement Period.
4.3 Anniversary Bonus: If you make at least 15 Eligible Purchases during the Statement Period which follows your Annual Statement, you will receive an anniversary bonus of 2% cashback on your Top Purchases for that Statement Period.
4.4 We may from time to time pay higher cashback rates on certain transactions (“Promotional Cashback”). Promotional Cashback may be subject to additional terms and conditions.
4.5 Unless we tell you otherwise, the maximum amount of Eligible Purchases which qualify for cashback in any Cashback Year is £75,000.

and the summary states

BC wrote:

Earn 2% cashback on your top five monthly purchases and 0.5% on everything else. All you need to do is use your card 15 times each month for the 2% booster to kick in.
Enjoy a 6% welcome bonus on your five biggest monthly purchases. You can earn up to £120 cashback on these during your first three months.
Each year you'll get a 4% thank you bonus on your top five purchases in the month after your card anniversary, no matter how much you spend.
And you get all this for just a £24 annual fee, which you can easily earn back by simply using your card wherever you spend.

Now the only cap mentions are
1) £75000 on purchases in any cashback year
2) upto £120 cashback on 6% promo purchases during the first three months.


It's #2 that's bugging me the most. Does this mean
a) upto £120 PER qualifying 6% transaction over the 3 months, meaning potentially £120x5(purchases)x3(months) = £1800?
b) £120 max total for all qualifying 6% transactions per each month, meaning potentially £120x3(months) = £360?
c) £120 max total for all qualifying 6% transactions over the entire period of 3 months, meaning potentially £120 total?


AND THEN


ontop of a) b) or c)


- Is the above cap limited to ONLY the 6% qualifying purchases and not inclusive of anything gaining the regular 0.5%? e.g, if the above was c) would it then also be
£120+(# of non qualifying purchases at 0.5%)


FURTHERMORE

BC wrote:

Each year you'll get a 4% thank you bonus on your top five purchases in the month after your card anniversary, no matter how much you spend.

However the 6% works, the anniversary bonus works differently? As it clearly states "no matter how much you spend". This would make me lean towards it making more sense if the answer to the original query was a) or b)


BUT THEN,


does this also mean that the 4% anniversary bonus does not count towards the £75000 capped purchases?


I've never been more confused with the conditions of a cc. To put it into a more personal example, I'm in month 2 of my promotional period with the 6% bonus and have just hit the £120 cashback total. So I'm now trying to establish, do I stop using the card because I would now get
a) only 0.5% on any other purchases
b) 0% because the £120 cap is inclusive on all purchases


and switch to a 1% card instead.


Finally, the £24 fee has been waived for anyone who took the card out before the 2nd Dec, correct? but just for the first year, right?

opinions4u

I got mailed from Barclays what was probably a decent deal worth £30 if I spent £750 on a different, unused, card.

I found it a tad too complex to be bothered with so closed my account instead.

I can't be bothered with schemes that are excessively complex. Barclays make a habit of it.

Rockula

antispam246 wrote: »

So I'm now trying to establish, do I stop using the card because I would now get
a) only 0.5% on any other purchases
b) 0% because the £120 cap is inclusive on all purchases


and switch to a 1% card instead.


Finally, the £24 fee has been waived for anyone who took the card out before the 2nd Dec, correct? but just for the first year, right?

From my understanding of the terms (and after speaking to various Barclaycard reps), your first assumption sounds correct, and now that you have reached the £120 cap for your 6% purchases, all other purchases within the first 3 months should attract 0.5%.

Do you have any more information on the fee being waived (I assume for the first year?) - does this apply to all current holders of the card?

antispam246

Rockula wrote: »

From my understanding of the terms (and after speaking to various Barclaycard reps), your first assumption sounds correct, and now that you have reached the £120 cap for your 6% purchases, all other purchases within the first 3 months should attract 0.5%.

Do you have any more information on the fee being waived (I assume for the first year?) - does this apply to all current holders of the card?

Weird. I checked back through my history and it would seem barclaycard have removed all mention of dropping the £24 fee. I swear it stated anyone who took the card before the 2nd or 4th december would have it waived in the first year, i'll keep digging.

This is where I originally caught on, briefly mentioned by one person
http://www.stoozing.com/forum/YaBB.pl?num=1348784158/15

When I checked barclaycard it DID state it but now it doesn;t.