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

joe134

planteria wrote: »

sorry Joe, i am struggling to understand your post:o

Hi planteria, sorry if I'm vague. When I said Amex Plat changed to points, I was mistaken.What they did, and it's on my account details now, is that they said/say that NO caskback will be credited, until,£25 pound has been earned.?
So, if my interpretation is correct, no cashback for the first £3k of spend = £25 cashback, approx;. However, it does not say, whether that is refunded if I continue spending and earn more, tiered up to 1.25%.? If not, then, I only start earning cashback, after £3k, so Amex are recoupnig their £25 fee, on my fee free card.? That's why I changed to mbna-amex 1% flat on all purchases.Does yours say the same on your cashback details on your a/c.? just used my plat, and no cashback showing.?

joe134

planteria wrote: »

sorry Joe, i am struggling to understand your post:o

This is what's on my statement, on online account;

"Up to 1.5% cashback on virtually everything you buy - not just for a limited period.
No Cashback rebate will be made if the amount of Cashback earned within the Cardmembership year is less than £25."

Click here to see how much Cashback you're earning
Just checked A/c again, and on £5.83 they have paid 0.02p,rounded down to below 0.5%? Not exactly practically 1.25% on every pound spent. On £10k, mbna beats Plat by £8, thereafter, plat wins.
applied for m/s to replace capone, for none amex takers;

roddydogs

You have to spend at least £3000 pa to get CB.(i think)

joe134

roddydogs wrote: »

You have to spend at least £3000 pa to get CB.(i think)

Hi,roddydogs, cheers, That's how I'm reading it. I used it for years with cashback on ALL purchases, then they introduced this, so changed to mbna but still use it occasionally, to keep it active, because there's a dormancy fee of £20;;Thing is, DO I get the first £3k cashback=£25, refunded if I go to £10k say.? OR, is the £25 lost, to pay for fee, which is on new ones? If so, mbna is the better deal.Bit vague innit;;;

planteria

yes, roddy is right joe. you Do get cashback, right from the start. but they are expecting you to hit the minimum threshold of £3,000 spending. just do it:D --obviously by channeling spending via the card, not creating spending to do so:D

allan1954

NoviceAngel wrote: »

Isn't it strange how some capital one customers cards have been changed with zero cashback and some downgraded to 0.5%, mine personally I paid £18 a year with 1% cashback and a statement credit of £10 per year for being a good customer, always paid my balance IN FULL every month by DD, guess I wasn't that much of a good customer after all to get a zero % downgrade

same for me spending loads paid in full every month.customer service told me that the cashback and the £10 bonus is finishing for everybody.

joe134

applied for M/s card yesterday, got acceptance e-mail this morning, so, that will replace capone, which I will cancel, june,after my cashback, and stick to amex, with m/s as back up mastercard, but, still swipe amex at M/s at the tills for cashback

frank777

UPDATE
Capital One - the £10.00 Bonus has finished and is not being paid in the June statement.

roddydogs

Is there any actual point in cancelling, as there is no fee? just dont use it.

NoviceAngel

roddydogs wrote: »

Is there any actual point in cancelling, as there is no fee? just dont use it.

The only negative I can think of if having 'open' credit.

In other words it could make it more difficult to get further credit when other companies check credit reference agencies if you have quite a lot of cards like I do......