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

Jeems

I've also yet to be contacted but am expecting something in the post next week. It's been a good run oh my dearest 4% luma, even though you constantly shortchange my 1 or 2p a month in cashback.

Will cancel and stick to the Amex from June I guess

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planteria

Medstudent wrote: »

..Hopefully the let me keep the overseas fee free, then it still has some uses.

if they scrap cashback on my AspireElite i am closing the account without delay:lovethoug

davidsuffolk

I would have thought that people like me who hammer the card, putting everything possible through it and paying in full every month, would be the least desirable as with the new rules they would lose the most money?

I haven't heard yet though my name is towards the end of the alphabet so probably next week sometime.

Already opened a 123 to try and get something back but who knows how long that will continue.

andyfromotley

Chrysalis wrote: »

whos silly idea was it to enforce lower fees for card processing?

as the consumer doesnt gain from it.

I know if I was a shop and my processing fees were dropped I wouldnt lower prices, I wouild just bump up my profit margin instead.

And assuming that you have no competition you would get away with it. However we operate in a competitive market place and eventually, over time these reductions in charges will work through.

molerat

Jeems wrote: »

I've also yet to be contacted but am expecting something in the post next week. It's been a good run oh my dearest 4% luma, even though you constantly shortchange my 1 or 2p a month in cashback.

Will cancel and stick to the Amex from June I guess

(Text removed by MSE Forum Team)

£9.02 with a £224.99 spend on this month's statement

msallen

davidsuffolk wrote: »

I would have thought that people like me who hammer the card, putting everything possible through it and paying in full every month, would be the least desirable as with the new rules they would lose the most money?

I haven't heard yet though my name is towards the end of the alphabet so probably next week sometime.

Already opened a 123 to try and get something back but who knows how long that will continue.

My name is at the beginning of the alphabet and I haven't heard anything yet so I wouldn't bank on that being a criteria.

I'm away on business for the next week and a half so I am expecting to either have a letter waiting for me on my return, or to have escaped the cull !

Jeems

Jeems wrote: »

I've also yet to be contacted but am expecting something in the post next week. It's been a good run oh my dearest 4% luma, even though you constantly shortchange my 1 or 2p a month in cashback.

Will cancel and stick to the Amex from June I guess

(Text removed by MSE Forum Team)

Interesting, threads are apparently unmonitored but an admin modified my post double quicktime

Time to put the tinhat on

planteria

i dont think the alphabet will have much to do with it
it'll be interesting to see whether any CapOne customers will still be earning cashback, or whether they are offered any good reason to keep their accounts open..
i'm already factoring in collecting the cashback in June, and requesting a portion of my annual fee back too:A

Biggles

I got my letter for the Cap1 Aspire World card Thu, so stopped using it (I was only at the 0.5% threshold anyway) and have already been accepted for the AmEx Platinum Cashback to take its place.

ratechaser

planteria wrote: »

if they scrap cashback on my AspireElite i am closing the account without delay:lovethoug

Likewise, and I will also be expecting a pro-rated refund of my annual fee!