Best Cashback Cards Article Discussion Area

IvanOpinion

spotty_dog wrote: »

I'm new to this, and didn't even have a credit card till recently, so am a little wary, and would appreciate some advice. I was accepted for a capital one 4% cashback card, but on the form it says there is an annual fee of £18. Is this a different card from the recommended one (it is called CApital One Primary Cashback with World Mastercard) or have the goalposts moved recently?

Thanks for any feedback

spotty there are 2 cards from Cap1 with 4% cashback. One for those with 'excellent credit' and one for those with 'good credit' (both as defined on their website). The main difference between the two is that if you only have a 'good' credit rating then you have to pay an annual fee (£18) and the Apr is slightly higher. If you have accidently or otherwise selected the 'good' credit rating card I would suggest that you contact the call centre and explain.

Ivan

dunnomate

Capital one is 4% ONLY FOR THE FIRST 3 months ! Then its 1% after that !

cheers

simhar

zantos

Is capital one concerned about a persons age? Having seen daveee's post regarding being 60 - I am nearly 63. I have excellent credit, own home outright, 3 times their expected annual income etc. Turned down quoting their search criteria *Experian etc) BUT stating this might not be the reason! Have cut up my wife's ordinary card saying she obviously couldn't meet their criteria (she was added user on my application) and appealed asking if it was purely an age issue. Don't expect any relevant reply.

spotty_dog_3

Thanks Ivan, that makes sense, I think I probably did go for 'good' rather than 'excellent' - will give them a call tomorrow.

terrytibbs_2

zantos wrote: »

Is capital one concerned about a persons age? Having seen daveee's post regarding being 60 - I am nearly 63. I have excellent credit, own home outright, 3 times their expected annual income etc. Turned down quoting their search criteria *Experian etc) BUT stating this might not be the reason! Have cut up my wife's ordinary card saying she obviously couldn't meet their criteria (she was added user on my application) and appealed asking if it was purely an age issue. Don't expect any relevant reply.

It's difficult to tell but here are a few things to consider:

1) How long have you lived at your address? If only a short period of time they may not be picking up your full credit history.
2) Are you on the voters roll? If not then this will affect your credit score.
3) Do you have any existing credit? I.e. currently outstanding loans, active credit cards (with or without balances) etc. If you have none then lenders have no history to assess you with! If you have lots of credit this can also impact on their decision.
4) Have you made any other applications for credit recently? One or two within the last 3 or so months will not have a major impact but if you have made more than that it will start hitting your credit score.

Despite all of the above, the lender must advise you of the main reason why you were declined and you are entitled to a manual review of the decision so give them a phone and ask for more information. If they are a reasonable company they should be able to explain things.

lisyloo

Despite all of the above, the lender must advise you of the main reason why you were declined

I've never heard this before.
Could you please quote some leglislation that obliges them to provide this information as I'm sure it'll be really useful to a lot of people.

zantos

Hi Terrytibs
1) 17 years
2) Yes
3) Yes credit cards (about 4 but some unused)
4) 1 for an Amazon card which I later cancelled about 3 months ago.
There was a dispute over monthly payment with Amazon as faulty goods were supplied and the vendor was late in giving a refund. Halifax/BOS were supposed to have added an override to this with the credit agencies - gues I'll have to check.

lisyloo

There was a dispute over monthly payment with Amazon as faulty goods were supplied and the vendor was late in giving a refund.

My advice would be

1) Add your own words to your credit report about the circumstances.
2) In future if you have the cash available then pay it off and withdraw the refund later. It simply isn't worth having this on your record for 6 years if you have the cash in available savings.

WVOQuine

My quest to receive my cash back continues:

The latest from MS (well it's Goldfish now) is that there is a 'problem' and they are not allowed to tell the customers what the problem is or when it will be resolved. I have been maintaining a balance equal to the cash back (with no further spending) for a couple of months now, since I first requested that my cash back be credited to my account. Of course I am accruing interest which annoys me greatly. MS (Goldfish) tell me that the cash back will be paid eventually and the interest will be credited. Can I trust them?

Mark_J.

I got MS (goldfish) to send me the cheque for £15 cashback in the post last month, no problems. I would recommend paying off the remaining balance on your account, as it's not worth paying credit card interest unless you really can't afford to pay it off. I think you can trust them, all these companies make mistakes and sometimes have problems, but you should get your cashback eventually..............!