Capital One - 4% Cashback - Whats the limit?

MarillionFan_2

4% Cashback for 3 months. Like it.:D

If they're going to pay 4%, this means thats a good 2% difference between what I have to pay as a retailer to Streamline in retail charges versus the benefits I get as a card holder.

Methinks there maybe a good opportunity to play one system against the other here and make some cash!!!

Does anyone know what the limit is on this?

marksandsparksgal

Not sure but surely they'll twig something is up if there are hundreds / thousands going to the same retailer every month! And they may say you're abusing the system and withdraw the offer ... not really worth it IMO...sowwy!

MarillionFan_2

Free money is free money! :-)

Stephen_Leak

Interesting situation. Just go through the T&C's very carefully.

michaels

I was thinking of doing this - paypal cc charges are as low as 1.9% if you put through enough in 1 month so you don't even need a proper credit car acceptance facililty - in the end I didn't do this but did get 420 cashback in my 1st 3 months with no mention of a limit

Chris2000

Their recent adverts in thelondonpaper say
"Unlike some deals, there are no caps or catches attached to our new Cashback card. So you really do earn Cashback on every single purchase, no matter how big or small."

roddydogs

Dont forget you can buy vouchers for Asda, Tesco etc before the 4% runs out!;)

egamar

roddydogs wrote: »

Dont forget you can buy vouchers for Asda, Tesco etc before the 4% runs out!;)

Which might be treated as cash, not purchases.

Read the Ts and Cs very carefully! Oh, gosh: someone else said that too. Must be a good idea, then.

Milarky

I can confirm that you are able to get cashback on spending in any month in excess of your credit limit (eg by paying off the card frequently to create available credit at all times) Thus there is no limit on cashback as such.

As to the the 'type' of transaction and how it is treated (like gift vouchers) if your purchases are 'mixed' then I would expect you will get cashback on the total value. Even if they are at a separate counter, provided the credit card is accepted (and you can ask beforehand) gift vouchers are just another purchase are they not? I think the main ways of separating 'cash substitutes' from goods is by: 1) the store only taking debit cards if they are able to do this - eg by having a kiosk or 2) by the credit card issuer being able to recognise it coming from a particular source organisation (like online gambling) which they exclude en masse.

roddydogs

their NOT treated as cash ASDA anyway, i tried buying and using £10 worth just to see.Its treated as normal goods. U can get them from the customer service desk, or direct from the till.
the card is the same for any amount, it has a chip, if you buy say 11.59 worth of goods, it deducts that amount, you can get any multiple of £10.
Best to get, say 10x£100 cards, than 1 £1000 card, keep the others in a safe place till you need them, cause if you lose the card its as good as cash.

johnk

I buy Tesco gift cards together with my shopping at normal checkout - they are no different from other items.

The other thing is that although I was told that the three months starts from the time of approval, I have actually received 4% for all transactions on my third statement:j