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

Stereo

I sent Capital One a message last night, here is their response...





Looks like it only applies to certain cards. I have the Cap One Classic Extra with 0.5% cashback.

lisyloo

What is the concierge service?

The concierge service can book restaurants, theatre tickets etc.
I would imagine this is useful if you are and extremely busy high flyer e.g. you call them between flights and rattle off your requirements.
However I can't imagine for a minute that this is the cheapest way to get this done for an ardent money saver.

When I book a restaurant, even for a special occassion, I would check travelzoo, groupon etc.

The only people I know who've found these kind of services useful would be what I'd term as "high flyers".

msallen

Stereo wrote: »

Looks like it only applies to certain cards. I have the Cap One Classic Extra with 0.5% cashback.

That may explain why I haven't heard anything yet myself either.

I haven't a clue of the name of my card though - I held a non cash-back card from CapOne for years then applied to upgrade it to a cash-back one (although I don't know the name) about 3 years ago. I was declined the upgrade, but then got an email a few weeks later "reminding me" of the rates of cash-back I would start earning the following month. Its 0.5% on first 6K, then 1% up to 10K, then 1.25% after that. No concierge, no credit reports, FX fee is charged, no annual fee.

NoviceAngel

Stereo wrote: »

I sent Capital One a message last night, here is their response...





Looks like it only applies to certain cards. I have the Cap One Classic Extra with 0.5% cashback.

Seems strange that they remove all cashback on the 1% card and leave the 0.5% card alone...

Why didn't they just cut everyones cashback to 0.5% Sounds crazy to me, think of all those Cap1 customers leaving......

Makes me sad to think a fair few jobs may well be going at Cap1

eagle

Out of curiosity, has anyone already cancelled their Cap1 card as a result of the changes?

molerat

No, but I have shaved a total of £4.75K off my credit limits in preparation to apply for a different card next month.

derelyth

Nope, keeping as a spare as my only other unused CC is an old student card with a £750 limit. The perks of the Equifax stuff is just that, a perk. Replaced with a Barclaycard Freedom.

Magsnoodle

Hi

I intend to use it up until the end of May, get my cashback paid and then shut the card down so that my credit history is cleaned up. It is fine to be fair but don't want an unused card sitting there when I am also getting rid of my halifax one when the 0% comes to an end.

NoviceAngel

eagle wrote: »

Out of curiosity, has anyone already cancelled their Cap1 card as a result of the changes?

No Luma customers can get 4% right up to the end of May, so make the most of what's left I say.

If your statement is dated 20th May, you would have about 10 days to spend £225 to earn £9 cashback so go for it and get what you can to the very end.

planteria

squeeze it like a lemon NoviceAngel:A :T