Capital One axing cashback for some, cuts cashback rates for others

planteria

lisyloo wrote: »

There must be some raionale for reducing/axing altogether.
I don't think you can say it's not personal habits as we don't know at the moment.

i think the pattern developing is that it is card type, rather than use...:undecided

and as ds says, Bravestar, it can often be about what expenses can be channeled through a card account. £30k would be a lot of Tesco or Restaurant spending:)

StevieJ

1961templar wrote: »

Well done EU, you have just cost me money!

Some retailers and the majority of holiday companies charge credit card users a surcharge, typically 2.5%. When paying for my holiday I usually use a credit card for security and the cashback I used to get helped mitigate the surcharge. I seriously doubt that the surcharges will be reduced despite the reduction in interchange fees.

The EU are so financially inept its unbelievable!

Can't you just pay the deposit by CC and the balance by DC? Or ask to make two separate payments.

lisyloo

If by security you mean section 75 protection, then you can get that just by spending £1 on the card.
You could have avoided a lot of cost that way so be careful when throwing around inept accusations, because on the face of it, your methods looked to have cost yourself quite a bit.

girlchops

Does anybody know when the BBC5 live show regarding this will air? i received my letter today but was hoping they'd somehow miss me after i read the old thread at the weekend.
I also had a world Mastercard that changed to an Aspire World card. I'm wondering if they'll reverse their decision to scrap completely with all the negative publicity but in the meantime will use alternative cashback card. Did they really think the card holders would just swallow this?

joe134

girlchops wrote: »

Does anybody know when the BBC5 live show regarding this will air? i received my letter today but was hoping they'd somehow miss me after i read the old thread at the weekend.
I also had a world Mastercard that changed to an Aspire World card. I'm wondering if they'll reverse their decision to scrap completely with all the negative publicity but in the meantime will use alternative cashback card. Did they really think the card holders would just swallow this?

They have stopped CB on both my World MC and Aspire.2 letters within days of each other.Could be, I don't use World MC, but, do Aspire.? Weare in no position to argue, just don't use it.

Cherry_Hinton_Blue

Got the "no more cashback" letter today. Aspire World card, 1% cashback, no fee. Oh well, over to Amex or M&S.

st999

I've never had a letter yet, is it everyone or just some who are getting the cashback cut or removed?

Bravestar

davidsuffolk wrote: »

Many people do. I used to put all business expenses through mine so with flight, hotels car hire etc it was easy enough to spend quite large amounts (and which, being an expense, was reclaimed)

Really?

I suspect you overestimate just how many employees actually have an annual expense account of at least £30k a year on top of their salary (MPs excepted )

And of those that do have such an expense account, I would find it hard to believe many, if any, would be disappointed if they were to lose what amounts to less than £1 per day.

But if you do fall into that category, then have you considered that if you were not quite so free and easy spending your empoyers cash, they might actually be able to pay you a little (or a lot!) more

guesswho2000

Bravestar wrote: »

Really?

I suspect you overestimate just how many employees actually have an annual expense account of at least £30k a year on top of their salary (MPs excepted )

And of those that do have such an expense account, I would find it hard to believe many, if any, would be disappointed if they were to lose what amounts to less than £1 per day.

But if you do fall into that category, then have you considered that if you were not quite so free and easy spending your empoyers cash, they might actually be able to pay you a little (or a lot!) more

Not necessarily - flights, hotels and car hire soon add up cost wise, and a lot of businesses require you to travel as part of your job, some provide purchasing cards for this, some don't.

Bravestar

I think someone here speak with forked tongue.

No mention in this post about £1000's of business expemses - he says he piddles about with even purchases of £2 onto a cashback card.
http://forums.moneysavingexpert.com/showpost.php?p=68113227&postcount=5

And if this post is to be believed, that same person appears to be about 68 years old
http://forums.moneysavingexpert.com/showpost.php?p=57759859&postcount=23

:cool: