What are you doing with your Capital One card ?

Stereo

Nick_C wrote: »

I'm certainly keeping mine. My cashback rate has been cut to 0.25%, which is not great but its better than nothing.

I have Santander 123 and Halifax Rewards. I have an M&S card which I stopped using a while ago, but which I will start using again in June to replace Cap 1.

However, I am expecting M&S will drop their cashback as well. They can't afford to give you 0.5% cashback if they are only getting 0.6% handling charge on transactions.

I do think people have been unfairly critical of Cap 1. It was good while it lasted. I've received £480 from them over the last four years, and I think in a year's time 0.25% cashback may well be looking generous. If you want to blame someone, blame the EU, not Cap 1.

Nick, which Capital One card do you have? Is it the Aspire World? I'm interested to see which cards are having cashback reduced, as mine is staying at 0.5% (see other thread regarding the message they sent me).

InsideInsurance

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

My Cap1 card was the backup to my AmEx.

Given the lost interest it will go into the emergency pool and will use a different reward card as the backup, probably the Hilton Hhonors for now as despite not liking their properties I keep end up staying at them.

Nick_C

Keep the card but use it much less.

Stereo wrote: »

Nick, which Capital One card do you have? Is it the Aspire World?

It is branded Aspire World. It is currently 1% cash back on all spending with an £18 annual fee and a £10 annual bonus. The new terms are 0.25% with no fees and no bonus.

eagle

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

I'll be closing mine as soon as I can clarify when exactly I'll get the cashback that's owed to me - it's not a lot but better than nothing.

I already have an Amex Platinum Credit Card which I've had since 2008 I think. I also have a Santander Zero (foreign spending at 0%) and a Santander 123.

I am considering chopping the Santander 123 and the Amex Plat in faovur of the Amex Gold Charge Card. I don't know where I would be without my AmEx. Have got really good service from them in the past and have had no problems from them in the 11 years since I've had a card with them...

By the way, anyone who wants to use their Amex somewhere they currently do not accept it, get in touch with Amex using this link to give them a heads up. In the past it's helped me use my card in many places that didn't accept it.

ellielovesem

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

I've voted shredder

How do you actually go about closing accounts? I want to close this in June and I've also got a Post Office one which I'd like to close. Do I just put it in writing if I can find the correct address?

Stereo

Nick_C wrote: »

It is branded Aspire World. It is currently 1% cash back on all spending with an £18 annual fee and a £10 annual bonus. The new terms are 0.25% with no fees and no bonus.

That's really bizarre, I have a Cap One Classic Extra card with a ridiculously high APR, yet they are letting me keep the 0.5% cashback that I get with it.


Must be due to how much interest is potentially paid to them if balances aren't cleared in full every month.

NoviceAngel

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

Nick_C wrote: »

It is branded Aspire World. It is currently 1% cash back on all spending with an £18 annual fee and a £10 annual bonus. The new terms are 0.25% with no fees and no bonus.

That's bizarre because I have exactly the same card mine black with 'Aspire World' on it and yet they have cut completely my cashback to 0.

Same £18 fee with £10 back.

Bizarre,

NoviceAngel

NoviceAngel

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

ellielovesem wrote: »

I've voted shredder

How do you actually go about closing accounts? I want to close this in June and I've also got a Post Office one which I'd like to close. Do I just put it in writing if I can find the correct address?

Sometimes if you call them, they will just accept verbal instructions, but officially you have to put it in writing....

Stereo

NoviceAngel wrote: »

That's bizarre because I have exactly the same card mine black with 'Aspire World' on it and yet they have cut completely my cashback to 0.

Same £18 fee with £10 back.

Bizarre,

NoviceAngel

Seems like a bit of a lottery is going on as to whether you keep your cashback, have it reduced or cancelled altogether... has anyone who has a Classic Extra card had their cashback cancelled / reduced?

NoviceAngel

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

Stereo wrote: »

Seems like a bit of a lottery is going on as to whether you keep your cashback, have it reduced or cancelled altogether... has anyone who has a Classic Extra card had their cashback cancelled / reduced?

I suspect not a lottery but a carefully crafted plan to keep some customers that they can make from, and a two fingered salute to the ones that they can't.

I have always paid my bill by DD IN FULL every month, never ever let them charge me for a late payment or even a foreign TX fee....

In their eyes, I'm not someone that they would wish to hold on to.....