Best Cashback Cards Article Discussion Area

Fat_Girl_Slim

I'm a Capital One Platinum cardholder but have not used the card for several months after switching to one paying better cashback. I get the Capital One cashback in January (about £80).

Enquired today about the attractive 4% cashback Worldcard offer. I could apply for the card as long as my old card had not been used for 3 months. No problem there. However, I was told that as an existing Capital One customer I would forfeit the £80 accumulated cashback on my other card.

So it's another one of those 'new customers only' deals. Please take note if you're an existing Capital One cardholder. Weigh up whether you can afford to lose the cashback you've already earned before applying.

locked

was wandering if it is possible to increase the credit limit using the following approach:

- assume credit limit is 7500 pounds with a 0 balance
- transfer 2500 from bank account to credit card account.

Does this in effect provide a credit limit of 10,000 pounds?

If it does this provides a neat way of gaining extra cash back. Would be very handy for purchases of large items like cars...
Dave

tobykim

When I applied for my cashback card, they wrote to me to say that I already had a credit card with them (obvoiusly one I had taken out ages ago to get a free cd player/Radio Alarm Clock !!!)
They asked if I wanted to cancel my application or cancel my older card.
I opted to cancel the old card and progress with the new one.
! week later all done

Just had my reply and didn't get the reply that you got, mine said that it was based on a credit search with Experian, although when I checked my credit report with them it came out as Excellent 99.9, don't think I'll bother too much hassle

happyfly.co.uk

I've recently came across this card when was bowsing new links for my web page. You basically earn cashback that can be redeemed against a new car. They pay back 3% of your spendings, and the good thing is that if you your spouse has one as well you can join your cashback together when purchasing a new car. Simply google it or use my page if you want

normdes

Thank you for your sarcastic reply Some people are not used to using Credit unlike yourself obviously......havig read some of moneysaving experts advice sometimes its best not to ask the credit card company so thanks for your patronising comments !!!!!!!!

YorkshireBoy wrote: »

You can't pay a bank loan off with the card you have.

As regards "help", if you'd asked Capital One (via their freephone number so no cost to you) you'd have had your answer sooner!

YorkshireBoy

normdes wrote: »

Thank you for your sarcastic reply...

My sarcasm was in response to your...

has anyone actually read my question ?? thought people were here to help !!

...statement. After all, it's not the best way to get 'help'.

...thanks for your patronising comments !!!!!!!!

You're welcome!

dzug

locked wrote: »

was wandering if it is possible to increase the credit limit using the following approach:

- assume credit limit is 7500 pounds with a 0 balance
- transfer 2500 from bank account to credit card account.

Does this in effect provide a credit limit of 10,000 pounds?

If it does this provides a neat way of gaining extra cash back. Would be very handy for purchases of large items like cars...
Dave

A lot of card companies don't like you going into credit so it's not always possible.

And it is rare that a car dealer will take a credit card for more than the deposit - at least not without negotiating a higher price to cover his fee to the CC company.

So a doubtful strategy - not saying that it will never work, but it probably won't.

CopperPlate_2

YorkshireBoy wrote: »

My sarcasm was in response to your......statement. After all, it's not the best way to get 'help'.You're welcome!

Have to say, having read the post that this was in response to, I thought the same thing. Yeah, people are here to help, when they can, but this isn't a substitute for actually getting it direct from the horse's mouth.

Mark_J.

IvanOpinion wrote: »

To get that 'excellent rating [for the Capital One 4% Card] you must
- have a credit card with a limit of at least £5000
- have had a credit card for 5 years
- have never missed more than 2 payments on a credit card or loan
- have credit card balances of less than £10,000
- not have any previous defaults

Ivan

I comply with all these requirements, have perfect credit histories, have a very high house income and have lived in our (fully paid) house for 6 years AND Capital One still will not give me this card and will not explain why...... Frustrating..............

lisyloo

I can understand it being frustrating but no-one has an automatic right to credit or to do business with a private comapny.
It's up to them whether they want to do business with you.

You can try and speculate on their reasons but I've never seen anyone sucessfully come up with a definitive set of rules on here.

I agree it would be nice if they would tell you but I can understand their reasons for not doing so (some people would legally or illegally try to adapt their credit records presenting a false picture).

BTW - I did get Capital one, but I was turned down for GE Money and I also have high income and very good rating, so I have been in the same position. GE Money also would simply not answer my appeal which I thought was poor.