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

TadleyBaggie

Sorry if I missed it...will need to keep our Cap1 accounts active until next January to be able to get the cashback accrued to date?

davidsuffolk

TadleyBaggie wrote: »

Sorry if I missed it...will need to keep our Cap1 accounts active until next January to be able to get the cashback accrued to date?

It seems to be split. Some have had cash back cancelled and then will be paid up to date in July,while others have it reduced and get paid, as before, in January so it will depend on what your particular card does.

planteria

fwiw i would rather get the option to get out in a few weeks time

gtrevor

planteria wrote: »

and it is definitely the AspireElite with the shiny silver 'MasterCard' logo?

Yep I'm afraid so .. They will refund the annual fee and pay up any cashback earnt YTD and then nothing going forward.

Will be cancelling my card as soon as I receive my cashback ...

planteria

thank you for your reply. refund in full, of £120? if so, nice one:money:& me too.

allan1954

today I got the letter from capital one cashback ending the end of may so I am going back to using nationwides 0.5%.better than nothing.

[Deleted User]

To confirm, the scan I put in post #55 is for a Luma card.

[Deleted User]

joe134 wrote: »

The Daily Mail says today, it's new card holders only, methinks they are wrong

When is the Daily Fail ever right about anything?

SingingDwarf

Capital One Platinum cashback credit card, previously 1% cashback on all spend is being cut to nil on 1st June.

ratechaser

gtrevor wrote: »

Yep I'm afraid so .. They will refund the annual fee and pay up any cashback earnt YTD and then nothing going forward.

Will be cancelling my card as soon as I receive my cashback ...

All I can add to that is s*d it, it was good while it lasted... So I guess I can expect a letter on my mat next week when I return from sunnier climes

Still, I'll probably have hit the 50k spend mark by June, and as it drops to 1.35% after that, moving to Amex/Santander won't be a great wrench, especially if I get the £120 fee back.

C'est la vie.