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

Bravestar

guesswho2000 wrote: »

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.

Many such buinesses also now provide video conferencing facilities etc to curb the time & money spent travelling.

SuiDreams

guesswho2000 wrote: »

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.

Just to add in our business people regularly spend £2K plus on expenses each month, people who spend large amounts though are encouraged to apply for company Amex cards though. Just to add though I would say 90% plus of travel expenses are charged to clients (rather than being a cost to the business). It costs a lot of money to travel to visit client sites especially if they aren't in the UK.

planteria

seems a bit strange that we seem to have one contributor doubting/criticising another. i don't understand why:think:

£300 is a nice little annual bonus, even if it is less then £1/day.

it's also a very good system for building a good credit history:T

londonTiger

everyone does this, freeware software is the biggest culprit of this. Great software are given away for free so that they get freee marketing in the form of forum recommendation, social media shares etc. which pumps their user base and then suddenly to take the free version away or hide it in the small print and new users only see the subscription models.

So many times I have recommended avast to people (free version) and then I found that they're complaining it's not free or worse they paid for a subscription.

Obviously credit card companies make 0.5% on each transaction, but it's completely unviable for them to keep paying 5% or whatever in cashback. The cashback was a great push to get the public to sign up for the cards. Now they're happy with the level of cardholders and decided to take the cashback away. 80% of those people will probably carry on using the [former] cashback card to make purchases making the credit card company money.

davidsuffolk

Bravestar wrote: »

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:

Don't know how best to answer as I can't see why what I had put was in anyway "speaking with a forked tongue"?

As you seem to doubt me I will tell you more. I was until 2009 an area manager for an international company and had to travel very frequently including abroad. I had to run a local office which again I paid for with my card and was reimbursed every month. I paid for my company car with my card and reclaimed it. It used to come to more than £200 cashback a year (which was nice for doing nothing.).

I still try to put everything (yes, including the £2 in a local shop; easy enough with a contactless card?) on the same card.

Yes, I'm older now & I don't travel for business any more so last year I only got £148.94.(which is still nice!)

I thought the whole idea of cashback cards was to get as much as you can on them so not sure what your point is really?

Biggles

girlchops wrote: »

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?

I don't think they've had any negative publicity, just some reporting the facts, that they've had to react to the new EU rules.

There's zero chance of them reversing it; they're just the first of many to act.

joe1016zw

InsideInsurance wrote: »

You really thought it ever was? Didnt you find it odd that its prior management took it into the almost never used "unlimited" company structure which importantly means they no longer have to have public accessible accounts?

I agree with your words......:T:T:T

lisyloo

I don't think that many peopl live the jet setting lifestyle as a % of the population. In my company, the company pay for flights directly which reduces expenses.
For those that do it'd be worth looking at Amex, I've heard of upgrades, rewards, concierge etc. and would have thought that's an excellent choice.
Personally I've always preferred cash to rewards but it's also worth looking at rewards cards if the benefits are something you are highly likely to use.

joe134

Biggles wrote: »

I don't think they've had any negative publicity, just some reporting the facts, that they've had to react to the new EU rules.

There's zero chance of them reversing it; they're just the first of many to act.

The Daily Mail says today, it's new card holders only, methinks they are wrong, I've had Cap 1, 10 years or more.Also, it states, others will follow suit. I thought this thread was about the cut, not, about a slanging match on peoples spending habits. ?Each to their own.

Fingerbobs

Can anyone remind me of the date when Luma are stopping the 4% cashback? It was quoted in the original (now-deleted) thread, and I can't find it in the new one. (I haven't had the official letter yet. )
Thanks.