Positive point for BREXIT

bigfreddiel

My Capital One card used to have decent cash back. But an EU stipulation about a year ago meant this had to be removed.

That's my example of how EU interfered with how a U.K. A finance institution operated to our detriment

FluroFrancis

"decent cashback" only existed because the card companies were rinsing the shops with ridiculous card fees and what do shops do with costs? they pass them on to us

redux

You can find other parts of the forum for politics.

But on this topic, you're a bit slow to comment, as Capital One announced this decision about 20 months ago.

Interchange fees were cut from about 0.8% to 0.3%.

Would you prefer we have a rate like approaching 2% in USA, forcing retailers to charge more to cover the fees?

bigadaj

redux wrote: »

You can find other parts of the forum for politics.

But on this topic, you're a bit slow to comment, as Capital One announced this decision about 20 months ago.

Interchange fees were cut from about 0.8% to 0.3%.

Would you prefer we have a rate like approaching 2% in USA, forcing retailers to charge more to cover the fees?

In Freddie's case this has been the savings, pensions and various other boards.

eskbanker

bigfreddiel wrote: »

My Capital One card used to have decent cash back. But an EU stipulation about a year ago meant this had to be removed.

That's my example of how EU interfered with how a U.K. A finance institution operated to our detriment

Even if you choose to believe the 'nasty EU imposed this harmful measure on us' narrative, what evidence do you have that, outside of the EU, the UK would have reached a different decision on a matter that was clearly somewhat broader than impact on cashback rewards for cardholders?

System

It's the English subsidiary of an American bank.
The Little Englanders have certainly come out of the closet these days.

Strictly speaking it applies to the whole EEA - the leaving of which will require the agreement of the EU, EFTA plus the Westminster and Holyrood Parliaments...

bigfreddiel wrote: »

My Capital One card used to have decent cash back. But an EU stipulation about a year ago meant this had to be removed.

That's my example of how EU interfered with how a U.K. A finance institution operated to our detriment

bigfreddiel

Sorry about using the wrong thread, I take full responsibility

Time flies doesn't it.

But the explanation that came with the news that the cadhback was being reduced was due to an EU ruling. Sadly thst letter was binned

Cheers fj

SnowTiger

Heng_Leng wrote: »

It's the English subsidiary of an American bank.

Capital One (Europe) plc.

System

Thanks for the link to their website, I think...

SnowTiger wrote: »

Capital One (Europe) plc.