Best Cashback Cards Article Discussion Area

King_Weasel

mikki-b wrote: »

I've just applied for the 1% cash back Capital one card and was declined....My husband applied for one and was accepted straight away....Anyone have any possible explanation? Is it worth appealing?
Mikk

I suppose possible explanations are lower income? higher current debt? higher available credit level?

But I'd like to know from someone who knows more than me about how credit card issuers work: does an issuer check whether your spouse has a credit card with them? and if they do, would that have any effect on their decision? In other words, might mikki-b have been turned down simply because her husband already had a card with them?

mk_wotsit

My pin number has arrived and my Capital One 4% cashback card is apparently on the way! I thought I'd be declined, cos I'm obviously planning to make money out of them! :money:

mikki-b

It can't be because husband had already applied because I applied before him. I have 2 credit cards, he has one. He has a higher limit on his card than I have on either of mine, but combined my credit limit is higher than his (and I have never exceeded it). They do state that they ask the credit reference agency about people you have a financial connection with (such as a joint account or loan) so they should have that sort of info. He has actually missed a payment once or twice in the last couple of years (basically he forgot!) Whereas I never have.

I have written an appeal (and included his application number so they can check) I'll let you know.

Purple_Peril

Just to add my two-pennorth to the debate on the 4% period on the Capital One card.

I applied for the Capital One Cashback card with World Mastercard and received my acceptance letter dated 18 January - my title was incorrect on the credit agreement (they had me as Mrs rather than Miss), so I rang them. I was told to amend it and initial the amendment as well as signing the agreement and returning it to them - which I did.

The next thing I received was the PIN: my title had been corrected on the letter. On the panel with the PIN it stated "Pin for: my name" and "Account no: xxxx-xxxx-xxxx-nnnn" (where nnnn were the last four digitsof the card number).

I received the actual card on 1 February and called Capital One that evening to activate it. During the call they confirmed that I would get 4% cashback for the first three months, then 1% thereafter. I asked for the exact date that the rate would decrease to 1% and was told that it was three months from the issue date (which they informed me was 29 January - so the last day to get 4% cashback is 28 April).

I asked about the three days (29-31 January) that I could not use the card and was told that the enhanced cashback period ran from the issue date of the card - fair enough, except that the "valid from" date of the card is 02/08 - so even if I had received it a day earlier (31 January) I wouldn't have been able to use it as the validity of the card didn't start until 1 February.

In the activation phone call, when they asked if they could do anything else, I asked for a direct debit to be set up to clear the balance in full each month. The initial response was that they would send out the form, but I asked if they could set it up by phone - as I know this is now possible - and they did. I received written confirmation of the direct debit two days later.

Although I have not yet received a statement, I have checked my account online, and I have noticed that some transactions take 2-3 days to be posted to the account (and these are mid-week transactions, not week-end ones). Assuming that the relevant date for calculating cashback is the date that the transaction is posted to the account, then that's another 2-3 days that Ithe enhanced cashback period is effectively shortened (as well as 2 days because of February). In all, I reckon that rather than 13 weeks I am only benefitting from the enhanced cashback for 12 weeks.

On the bright side:
- Tax disc due at the end of February (£2.50 fee for paying by CC, but 4% cashback is more than this)
- Home insurance due beginning of May (so will pay towards the end of April, thus getting 4% cashback)
- Car insurance due end of May (so will try to pay in advance)

spike274

Planning on getting the Amex cashback card?? Go through Quidco and get £40 cashback!!

http://www.quidco.com/finance/credit-cards/american-express/

I saw this too late but managed to transfer to British Gas and got £60 cashback )

zagazoo

Shell Citicard Loophole not all Shell Stations Count!

Yes I found the same!! The Shell Garage on my way to work has a Sainsburys local as the shop, so it doesn't appear as Shell on your receipt and you don't get the 3% off only 1%. I phoned Citicard to complain they had not made this clear but got the brush off saying it not a Shell Garage even though it sells V-Power and it opposite a genuine Sainsburys Petrol station

King_Weasel

King_Weasel wrote: »

But I'd like to know from someone who knows more than me about how credit card issuers work: does an issuer check whether your spouse has a credit card with them? and if they do, would that have any effect on their decision?

In other words, might an issuer reject you just because your spouse already has a card?

I'd still appreciate an answer, please!

lisyloo

In other words, might an issuer reject you just because your spouse already has a card?

Issuers can do exactly what they want.
I would think it's unlikely you'd be declined just because your spouse has a card (unless you are financially associated with someone that has a poor record).

But I don't think you'll get an exact answer of this.
Issuers can make up their own rules. They are not subject to any laws.
Their rule are secret and each companies rules are different.

But I can't see any reason to decline unless associated with a person with a poor record.

mikki-b

Well I posted my appeal and yesterday I had a phone message from Capital One one to ring them.
So I've just rang them and they asked a few questions, like what the total household income was (ie what was my husbands salary) and what my loan was for. (I'm guessing they want to establish I took it out for a particular purpose, not to clear debt). Then said the person looking into my appeal will take that info and I should hear from them in about 5-7 days.

Watch this space.

mikki-b

Agreement came through this morning.
So anyone who gets rejected by Capital One and thinks they should have an excellent credit rating, it is worth appealing. At least it was in my case.
:T