Barclaycard Cashback

Graeme48

Following a recent article on the best cashback cards, you might also be interested in the following:

I needed to buy a new computer and software, so applied online for a Barclaycard Cashback account on 11th January. This was approved and as I had no immediate need for the card, I declined the offer of immediate access. The card was duly received by me on 17th January, activated the same day and the first purchase made on the same day.

How surprised was I to receive a statement on 11th February, (25 days after receiving the card) showing all 11 transactions up to and including 10th February and effectively giving me 0.5% cashback on those transactions. This in my view was a little unreasonable, as I would have easily reached the minimum 15 transaction limit within 30 days of receiving the card but the statement period runs for 30 days from opening the account, not from the date of receiving or activating the card.

The second point that could be made clearer is that even if you incur several thousand pounds of expenditure over the required minimum 15 transactions, the 6% cashback offer is capped at £40 per month, according to Barclaycard. Technically, I understand that this is the same as £120 over a three month period, but not what I was led to believe – I must learn to interpret small print better.

So, in summary, if you want a Barclaycard cashback card, take up the immediate access offer (or accept a shorter statement period in the first month), make sure you get the first 15 transactions in quickly and don’t spend more than £670 on your top 5 transactions, because you will not get any more cashback anyway.

SCO

Graeme48 wrote: »

Following a recent article on the best cashback cards, you might also be interested in the following:

I needed to buy a new computer and software, so applied online for a Barclaycard Cashback account on 11th January. This was approved and as I had no immediate need for the card, I declined the offer of immediate access. The card was duly received by me on 17th January, activated the same day and the first purchase made on the same day.

How surprised was I to receive a statement on 11th February, (25 days after receiving the card) showing all 11 transactions up to and including 10th February and effectively giving me 0.5% cashback on those transactions. This in my view was a little unreasonable, as I would have easily reached the minimum 15 transaction limit within 30 days of receiving the card but the statement period runs for 30 days from opening the account, not from the date of receiving or activating the card.

The second point that could be made clearer is that even if you incur several thousand pounds of expenditure over the required minimum 15 transactions, the 6% cashback offer is capped at £40 per month, according to Barclaycard. Technically, I understand that this is the same as £120 over a three month period, but not what I was led to believe – I must learn to interpret small print better.

So, in summary, if you want a Barclaycard cashback card, take up the immediate access offer (or accept a shorter statement period in the first month), make sure you get the first 15 transactions in quickly and don’t spend more than £670 on your top 5 transactions, because you will not get any more cashback anyway.

From what i remember reading about this card when it launched there are far too many hoops to jump through and not the best cashback rate if you dont, not worth the bother.

izools

Absolutely, Amex Platinum Cash back is far better IMHO

michaels

Just think yourself lucky to have the card - I was promised a new credit agreement at the end of December after calling to switch from world mastercard but even after 3 follow up calls still not had the agreement let alone the card.

horngkai

Graeme48 wrote: »

The second point that could be made clearer is that even if you incur several thousand pounds of expenditure over the required minimum 15 transactions, the 6% cashback offer is capped at £40 per month, according to Barclaycard. Technically, I understand that this is the same as £120 over a three month period, but not what I was led to believe – I must learn to interpret small print better.

So, in summary, if you want a Barclaycard cashback card, take up the immediate access offer (or accept a shorter statement period in the first month), make sure you get the first 15 transactions in quickly and don’t spend more than £670 on your top 5 transactions, because you will not get any more cashback anyway.

I am not sure how true this is. Have more than £40 cashback creditted to my account last month so I do not think they are capped per month. Where did you see that small print?

Graeme48

Having got a little upset over the statement period, I called Customer Services, who couldn't really understand why I was upset at losing a week of "chargeable transactions" and therefore 6% cashback on a significant value. To their credit, they did make a goodwill payment to my account, although still less than I was originally expecting to earn.
The comment about limits on the cashback came during this conversation, apparently from a supervisor.
Not how I read it on the promotion, which did not specify a maximum per period.

OllyM

michaels wrote: »

Just think yourself lucky to have the card - I was promised a new credit agreement at the end of December after calling to switch from world mastercard but even after 3 follow up calls still not had the agreement let alone the card.

It will probably never arrive because you can't transfer from a Mastercard to a Visa product.

SammenForLivet2

OllyM wrote: »

It will probably never arrive because you can't transfer from a Mastercard to a Visa product.

I don't understand? I have had a Virgin Money Mastercard and did a Balance Transfer to a Nationwide Visa C/Card.

I also used to have a HSBC mastercard and that has been transferred to a Visa Card.

OllyM

macfamilyent wrote: »

I don't understand? I have had a Virgin Money Mastercard and did a Balance Transfer to a Nationwide Visa C/Card.

I also used to have a HSBC mastercard and that has been transferred to a Visa Card.

This is a Barclaycard specific thing, nothing to do with balance transfers! They are offering the chance to change the type of card you have, but Barclaycard policy seems to be that you can't change from a Mastercard to a Visa.

michaels

OllyM wrote: »

It will probably never arrive because you can't transfer from a Mastercard to a Visa product.

Interesting, if only Barclaycard CS knew this. The Barclaycard CS rep seems to have disappeared from this forum. Are you a Barclaycard employee?

I was on the phone to them again yesterday. They escalated my complaint and offered to send the form again, however they admitted that forms were not arriving and they did not know why...what a way to run a business. The CS person spent a long time talking to their supervisor so clearly it is not just the front line staff who don't have a clue what is going on.

Annoyingly in the absence of this card I just did an Aquacard and thus credit search plus I am switching my mortgage so I probably don't want to apply for one as a new customer right now, quite annoying as I have 2k of spending lined up for when I do get the card which is becoming more urgent.

OllyM

michaels wrote: »

Interesting, if only Barclaycard CS knew this. The Barclaycard CS rep seems to have disappeared from this forum. Are you a Barclaycard employee?

No, the Barclaycard rep posted it a while ago - http://forums.moneysavingexpert.com/showpost.php?p=56641163&postcount=124

I believe that this was in reply to somebody with a similar problem to you - repeated forms apparently sent out to change a Mastercard to the cashback Visa but never received.