The old Santander 123 cashback limits?

JustAnotherSaver

All i can find is the new limits even though they're not in force yet, such as 3% on fuel but only up to a £100 spend.

That can't be the case since last month's statement has my 3% earnings down as £3.97.

So is there currently a limit on fuel earnings before the changes come in place?

I'm going to close my account early Feb but before i do that i was going to have family/friends use my card beforehand. Would be a little pointless if there's a cap though

YorkshireBoy

If I understand your question correctly, it's answered on their website, and in the letter they've sent you, namely...

From 1 February 2017, we're making changes to the 1|2|3 Credit Card. For all 1|2|3 Credit Cards the maximum amount of cashback that can be earned in each cashback category will be £3 per month.

So anything you earn before 1st Feb will be paid at some point in February.

And you earn it when the transaction is posted to your account.

Would you agree?

Neil_Jones

If you had your card before September 2015 your cashback limits were unlimited in Supermarket and Department store spends and £9 on Petrol/Tfl and rail.

This doesn't apply to you but since September 2015 the cashback has been capped at £3 per category for new customers after that date, but the card was closed by Santander a year or so later to new customers so the changes next month bring everybody onto the same playing field so to speak.

JustAnotherSaver

Neil_Jones wrote: »

If you had your card before September 2015 your cashback limits were unlimited in Supermarket and Department store spends and £9 on Petrol/Tfl and rail.

This doesn't apply to you but since September 2015 the cashback has been capped at £3 per category for new customers after that date, but the card was closed by Santander a year or so later to new customers so the changes next month bring everybody onto the same playing field so to speak.

Thanks. Looks like I'm good up to the £9 for now then.

Time to rope family & friends in before it gets closed.

JustAnotherSaver

YorkshireBoy wrote: »

If I understand your question correctly, it's answered on their website, and in the letter they've sent you, namely...So anything you earn before 1st Feb will be paid at some point in February.

And you earn it when the transaction is posted to your account.

Would you agree?

I would agree.

Although I'm not quite sure what question you're answering. It wasn't mine though

Vortigern

JustAnotherSaver wrote: »

Time to rope family & friends in before it gets closed.

Too late. I think you'll find that the 123 credit card is no longer marketed.

http://www.santander.co.uk/uk/credit-cards

YorkshireBoy

JustAnotherSaver wrote: »

I would agree.

Although I'm not quite sure what question you're answering. It wasn't mine though

OK I'll answer the question you posed...

It's no.

I thought you may have wanted a little more than "no", so my post explained why (there isn't "currently a limit on fuel earnings before the changes come in place?").
.

YorkshireBoy

Vortigern wrote: »

Too late. I think you'll find that the 123 credit card is no longer marketed.

http://www.santander.co.uk/uk/credit-cards

I understood the OP already had the card, and planned to hit it hard before 1st Feb, by using friends and family?

JustAnotherSaver

YorkshireBoy wrote: »

I understood the OP already had the card, and planned to hit it hard before 1st Feb, by using friends and family?

Correct.

There seems a lot of confusion. I've read it back to see if it was really as unclear as it seems but i don't think it was this time??

Vortigern

JustAnotherSaver wrote: »

Correct.

There seems a lot of confusion. I've read it back to see if it was really as unclear as it seems but i don't think it was this time??

My mistake, sorry. I was responding to post #4 and missed your reference to friends and family in post #1

JustAnotherSaver

I get my cashback paid around the middle of the month ish. I think the 10th is the cut off.

The rate drops to £9 total for the month from 1st Feb.

I don't know exactly what the limits currently are but let's say for arguments sake they're £10 a piece for each of the 3 (1%, 2%, 3%) for a £30 total, ok?

So to go on fuel & supermarkets let's say i've hit the £10 maximum on each so i'm currently sitting on £20.

Will this £20 get paid out in Feb's payment (middle of Feb) or come 1st Feb will £7 be erased from each of the 1% & the 3%?