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

OnePound

Got my letter this morning:
1st June cashback will be reduced from 1% to 0.25%.
Cashback will be paid as normal in January.
Due to changes to the industry means no longer sustainable.

prowla

I got mine - cashback being withdrawn, because the poor company can't afford it.
Actually, I hardly use my card because there's too short a time between the bill arriving and the due date, and I'm actually in credit (from the last cashback).

lisyloo

Is there an alternative?

There are loads of alternatives depending on your shopping habits and preferences.

Amex pays high cashback.
Santander is 3% for fuel & trains.
M&S, Asda, John Lewis & tescos are worth looking at if you shop there.
There are Avios cards if you want to go for flights.
HHonours do a free night in a hilton if you spend £750.

It really depends on which suits you best.
I've decided to go for a charity card and feel good instead.

planteria

OnePound wrote: »

Got my letter this morning...

so they are still being posted. i haven't received one & was starting to think that my account was surviving intact:undecided

planteria

lisyloo wrote: »

..It really depends on which suits you best.
I've decided to go for a charity card and feel good instead.

interesting lisyloo. which have you gone for?

lisyloo

interesting lisyloo. which have you gone for?

I really can't be bothered with the low level of rewards now on offer so after a bit of research I went for WWF (world wildilfe fund) which is MBNA visa. They get £40 to start with then 0.4% plus £2 per year.
That was the highest paying one I found.
I realise that MSE advice is to get higher cashback elsewhere and then gift aid it, but that means waiting a year plus remebering to do it whereas this way the charity gets money straightaway and can do something with it right now.
They do get millions of pounds coming in this way so I feel it is worthwhile.
I'd rather a charity gets something rather than a credit card comapny like capital one.

zerog

Still no notification of changes to my C1CE with 0.5% + £10/year + no forex fee on purchases. Got my credit limit automatically increased to £5000 though... despite this supposedly being a "bad credit" card with 35% APR.

keiran

Spoke to someone in the Executive Office at Cap1

She said that all cashback was being was removed, or capped at 0.5%.

No one will be earning more than 0.5% - and so I'm one of the lucky ones!

I think it would be important for us to know if any person was getting more than this...though of course, it may simply be that you haven't received the letter yet!

gtrevor

What about this one? No-one has mentioned it but seems to give the best non Amex rate and better than the ones listed on the MSE credit card guide?

It's the cashback plus one : http://personal.natwest.com/personal/credit-cards/compare-credit-cards/cashback-plus-credit-card.html

SeduLOUs

gtrevor wrote: »

What about this one? No-one has mentioned it but seems to give the best non Amex rate and better than the ones listed on the MSE credit card guide?

It's the cashback plus one : http://personal.natwest.com/personal/credit-cards/compare-credit-cards/cashback-plus-credit-card.html

Not bad rates if you use any of the retailers available or have a Natwest account to draw the money to. I believe there are also cashback offers related to using your debit card aswell, or at least there were back when I banked with them.