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

SuiDreams

allan1954 wrote: »

do you mean the £10 Christmas bonus if so this is going with the cashback.

Its the £10 for the lost of the travel insurance on the old world mastercard (the no fee version), think it usually pays out December/January. Did think about keeping it and spending £1 a month on it to keep it active if we still got the £10 back, if not it will definitely be cancelled

Fingerbobs

skybluesaver wrote: »

Just hoping the Halifax Clarity with their reward payment of £5.00 per month when £300 spent on it continues.

Ditto, and also hoping Barclaycard don't stop the 1% on the Amex card along with the 0.5% on Visa which will presumably be for the chop at some point.

I'm hoping to be able to use Halifax Reward Clarity for the first £300 each month then fall back to Amex at 1% for the rest.

(Still no letter received here, incidentally.)

Herbalus

Fingerbobs wrote: »

Ditto, and also hoping Barclaycard don't stop the 1% on the Amex card along with the 0.5% on Visa which will presumably be for the chop at some point.

I heard on the radio today (possibly mis-heard, not sure) that it's only Amex-issued Amexs that won't have these charge limits that are affecting cashback imposed. Whether that means a Barclaycard-issued Amex will face cashback reduction is another thing.

reclusive46

Herbalus wrote: »

I heard on the radio today (possibly mis-heard, not sure) that it's only Amex-issued Amexs that won't have these charge limits that are affecting cashback imposed. Whether that means a Barclaycard-issued Amex will face cashback reduction is another thing.

That was what was going to happen. The EU changed it although it is considering limiting 3rd party Amex fees in 3 years time but it's not expected to go through unless merchants are forced to accept Amex by their merchant provider (like in some EU countries).

Kim_13

cse wrote: »

The margins aren't narrow, they're negative. Can't see cashback being around on MasterCard/Visa with any company for much longer

Presumably with a 0.3% cap they can sustain 0.25% cashback. The presence of cashback surely increases the incentive to spend, therefore increasing the odds of a customer not clearing the balance in full and paying interest.

allan1954

SuiDreams wrote: »

Its the £10 for the lost of the travel insurance on the old world mastercard (the no fee version), think it usually pays out December/January. Did think about keeping it and spending £1 a month on it to keep it active if we still got the £10 back, if not it will definitely be cancelled

yes this is finished that is what they told me in the letter.I am using the same credit card.I am going back to nationwide credit card I had the one with 0.25% now updated to 0.50% better than nothing.

planteria

i'm a long-term Nationwide member, and would like to use their card too, but there are better options available:lovethoug

SuiDreams

Still unsure where to go next for the extra cash back

Currently spend £300 a month on Halifax Clarity card for the £5 back each month. Then the remainder goes on my capital one Card spend can be anywhere between £100 - £400 per month depending on if I have any big spends that month. Last year I Earnt £20 cashback for the full year plus £10 credit. I have earnt £10 so far this year as I've had a couple of big spend months.

I don't think I'm going to spend enough on top of my Halifax spends to make the Amex cards worth while. Just looking for something to fill the gap.

The only posibilities I have so far are Debenhams Card 3% on Debs spends and 0.5% else where paid in Debs vouchers and M&S Card with 1% in M&S and 0.5% elsewhere again paid in vouchers.

Anyother suggestions?

molerat

molerat wrote: »

I suppose I should ask for my limit to be decreased, currently £7.5K, (+ £9K on other cards) in preparation for opening another card - probably 123. Max statement balance according to Noddle has only been £2.5K.

2 Cap1 cards reduced from £9K to £4250 ready to apply for a 123 next month.

SuiDreams

Going to miss the free equifax monitoring and credit reports as well.