What are you doing with your Capital One card ?

joe134

eagle wrote: »

I'm beginning to think I should have done something similar on my card... haven't used it since the April statement. I wonder if they'll be able to send me my cashback one way or another - via the active direct debit or as a cheque?

They should remit a cheque.IF you close the A/c,the DD will be cancelled," after" it's added to your A/c this month.I doubt they are in a hurry to give all CB away, as they know there are going to be inundated with A/c closures this month, so, they may stage it, like the letters,
.MSE busy today, keep getting timed out?

NoviceAngel

Keep the card not use it, but keep it for the extras e.g. Credit monitoring

My statement date for Luma was the 26th May so on that date I bought a £250 gift card to grab the last of the 4% ohh well all good things and all that...

It's a real shame because the only people gaining tend to be the card processing companies, like Paypal and iZettle.

Let me explain, my business is on the borderline for full merchant services, we pay £20 per month fixed fee to have an online payment facility. Then we get charged per transaction, it was 1.6% on MasterCard, now it has dropped to 0.998% so technically we save, but with a monthly fee of £20 that really does eat into any profits. For example if we go on holiday for two weeks we still pay the £20 if we receive any payments or not.

Our alternative is iZettle or Paypal on a pay as you go basis, but the rates since the industry changes have not changed, so they charge 2.75% but no monthly fee.

Obviously it depends on a businesses takings via card, the point I'm making is the iZettle and Paypal rates haven't changed!

So how is the consumer or retailer better off? Truth is the changes haven't helped small businesses in the slightest, anyway this is off-topic it just gets my blood boiling though ........

joe134

NoviceAngel wrote: »

My statement date for Luma was the 26th May so on that date I bought a £250 gift card to grab the last of the 4% ohh well all good things and all that...

It's a real shame because the only people gaining tend to be the card processing companies, like Paypal and iZettle.

Let me explain, my business is on the borderline for full merchant services, we pay £20 per month fixed fee to have an online payment facility. Then we get charged per transaction, it was 1.6% on MasterCard, now it has dropped to 0.998% so technically we save, but with a monthly fee of £20 that really does eat into any profits. For example if we go on holiday for two weeks we still pay the £20 if we receive any payments or not.

Our alternative is iZettle or Paypal on a pay as you go basis, but the rates since the industry changes have not changed, so they charge 2.75% but no monthly fee.

Obviously it depends on a businesses takings via card, the point I'm making is the iZettle and Paypal rates haven't changed!

So how is the consumer or retailer better off? Truth is the changes haven't helped small businesses in the slightest, anyway this is off-topic it just gets my blood boiling though ........

consumer wins.? that's the idea, but, nobody does to me.? with paypal, et.al, I doubt I will use them again.75 rule.

msallen

NoviceAngel wrote: »

... Then we get charged per transaction, it was 1.6% on MasterCard, now it has dropped to 0.998% so technically we save ...

OK ... but ...

NoviceAngel wrote: »

So how is the consumer or retailer better off? Truth is the changes haven't helped small businesses in the slightest, anyway this is off-topic it just gets my blood boiling though ........

Well I reckon I can name one small business that is better off. They are 0.6002% of all takings via credit card better off than they used to be.

planteria

yeah, thanks Joe. that's how it seems. but not sure how long it will continue.

NoviceAngel wrote: »

Isn't the Amex Amex a slightly worse deal being tired starting at 0.5% admittedly depends on the amount you spend on it because it can go upto 1.25% CB over 10k

it reaches 1.5% at that threshold for me NoviceAngel, as the terms were slightly different in those days. and no fee too. that said, i am not spending as much in this cashback year as in previous years...so whereas it was a clear winner previously, i really need to up my spending in the next few months:D

eagle

Put it through the shredder, they can have it back! Account CLOSED!

planteria wrote: »

it reaches 1.5% at that threshold for me NoviceAngel, as the terms were slightly different in those days. and no fee too. that said, i am not spending as much in this cashback year as in previous years...so whereas it was a clear winner previously, i really need to up my spending in the next few months:D

The key is to minimise cash spending. I tend to go for my morning coffee each day and pay in cash although I could easily use my Amex. I am going to go a bit card-crazy in the next few months and spend on my Amex no matter how big or small to maximise cashback.

LCR

molerat wrote: »

The biggest thing I am going to miss is the clear on line account, MBNA and Santander are dire in comparison. Instant full pending transaction information was very helpful, why can't they all do it.

Completely agree, so useful..

planteria

im already on it, eagle. only place i draw cash out for is the pub.. and even some of them are taking my Amex card:beer:

NoviceAngel

Keep the card not use it, but keep it for the extras e.g. Credit monitoring

msallen wrote: »

OK ... but ...



Well I reckon I can name one small business that is better off. They are 0.6002% of all takings via credit card better off than they used to be.

That's providing it's worth paying a fixed fee each month to get an on-line virtual or a hand held terminal. For the turnover we do with cards, it's not worth it and we've recently gone with iZettle and we are no better off with the changes.

eagle

Put it through the shredder, they can have it back! Account CLOSED!

planteria wrote: »

im already on it, eagle. only place i draw cash out for is the pub.. and even some of them are taking my Amex card:beer:

It's those small shops that annoy me if they don't take it. But I am hoping to only go for places that accept Amex now.