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

roddydogs

Not to mention holidays (if your on 5%)!! PS am I right in saying you wont get the CB in June unless you cancel card?(Cap I)

joe134

lisyloo wrote: »

Still plenty for me
e.g. my local farm shop, my insurer, on-line retailers.

Be nice if everywhere took them . Why their charges are a lot higher than others , I don't know. They certainly give more rewards than others.If they dropped their charges to retailers, they would wipe the board.Cs is good.

addseo1118

Glad to see all opinion. Thanks for sharing.

joe134

roddydogs wrote: »

Not to mention holidays (if your on 5%)!! PS am I right in saying you wont get the CB in June unless you cancel card?(Cap I)

Haven't heard that one. They said mine would be paid until end of may, then no more.Presume they would just allow me to carry on using it for nothing thereafter.:rotfl:I intend to cancel, even though they have been good to me.No loyalty, I learned that from the banks.:)
I got a new Amex 3 years ago, to use on buying a new car, deposit, £1k+
Guess what, I forgot to take the new pin, had to use my old one.Sick as a parrot I was.Too far to travel back.

Nick_C

joe134 wrote: »

Be nice if everywhere took them . Why their charges are a lot higher than others , I don't know. They certainly give more rewards than others.If they dropped their charges to retailers, they would wipe the board.Cs is good.

If they dropped their charges to match mastercard and visa, they wouldn't be able to offer the generous rewards! I used to do the books for a small high street business. They were paying 1.6% on MC/Visa and 5% on Amex!

joe134

Nick_C wrote: »

If they dropped their charges to match mastercard and visa, they wouldn't be able to offer the generous rewards! I used to do the books for a small high street business. They were paying 1.6% on MC/Visa and 5% on Amex!

I didn't realise they charged that much, no wonder some places don't take them.My dentist won't, et.al.but, lucky that most local shops do.:beer:

molerat

roddydogs wrote: »

Not to mention holidays (if your on 5%)!! PS am I right in saying you wont get the CB in June unless you cancel card?(Cap I)

No, the letters state cash back earned will be paid in June.
http://forums.moneysavingexpert.com/showpost.php?p=68105655&postcount=55

reclusive46

Nick_C wrote: »

If they dropped their charges to match mastercard and visa, they wouldn't be able to offer the generous rewards! I used to do the books for a small high street business. They were paying 1.6% on MC/Visa and 5% on Amex!

Amex don't charge fees like that anymore (atleast not on new or renewed agreements).

matttye

Any ideas if you still get cashback if you close the account early?

I've got a Santander 123 credit card now and I'm just going to use that from now on, but don't want to close the Luma early if it means I'll miss out on cashback.

planteria

just wait until the cashback is paid, and then close it.