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

Kumnaa

I've also just had a letter removing my cashback from the 1st of July

I was on the fee driven Aspire World with a flat 1% cashback on everything.

hansi

I got the letter today too. Originally got a letter saying it was being reduced to 0.5% cashback, now nothing.:mad:

aris

I don't think there will be much better to be had. The interchange fees have been capped since December - so there isn't really much meat in the fees to be paying to customers for using their cards.

https://www.gov.uk/government/news/credit-and-debit-card-fees-to-be-capped

If there is a better card i'd love to know about it. To be honest, i've been happy with CAP1 as a card. Their online and iOS app is very good - as is their security and customer service. I'll be sticking with them unless someone else offers cashback.

sillygoose

Same, I am gutted, my wife and I both carry it and use it almost exclusively for all expenditure in lieu of cash/cashcard paying it off in full each month.

planteria

i'm picking up cashback with Amex, Barclaycard, Asda and Nationwide, along with TSB Debit Card.. there are certainly options on the market.

N9eav

Same here. Goodbye Capital One card.

aris

Problem with Amex is that so few places take it. The writing is on the wall - most of the other cashback schemes will slowly fade away. Was fun while it lasted.

keiran

aris wrote: »

Problem with Amex is that so few places take it. .

I'm afraid this is simply not true nowadays.

In my experience, shops which don't take Amex anymore are the exception

Nearly all major retailers take Amex, many small shops now do (thanks to the Shop Small promotion which Amex runs every year), and when buying online, there's nearly always the facility to pay by paypal (to which one can link one's Amex card)

sillygoose

keiran wrote: »

I'm afraid this is simply not true nowadays.

In my experience, shops which don't take Amex anymore are the exception

Nearly all major retailers take Amex, many small shops now do (thanks to the Shop Small promotion which Amex runs every year), and when buying online, there's nearly always the facility to pay by paypal (to which one can link one's Amex card)

Oh but it is true. We have to use it for work expenses but its useless, very few car parking machines or hospital/customer cafe's take it which is 90% of our daily usage. I often can't use mine for months at a time, but the company still insists on having it. Many of our people stay in quiet areas at small hotels, again useless.

Most of my personal expenditure is Lidl and Aldi, Amex = useless.
For fuel I get better cashback from my Santander.

But I suppose your keen on it you spam people by PM messages to try to get your referral payments

aris

sillygoose wrote: »

But I suppose your keen on it you spam people by PM messages to try to get your referral payments

LOL - you too eh :rotfl:

I've had an Amex for years - perhaps I should use it more - but mark my words - everyone will now drop cash back. It is dead. Maybe they'll move onto some other worthwhile perk - let's see.