MSE News: Cashback cards get hot for Summer: Two new 4% payers launched

Former_MSE_Dan

This thread is the discussion area for MSE News Item

Cashback cards get hot for Summer: Two new 4% payers launched

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roddydogs

Yes great, but Who?

wooders

Whats the best way to deal with this? I am already a cashback Capital one customer with the 1% cashback deal. I have only had this account for 3 weeks. I obviously want to take advantage of the 4% offer.

Do I payoff my exsisting account, close it and re apply (may risk being turned down though)?
Customer services say this is the only way, and will not just swap me?
The Barclaycard appears a reasonable aternative option, however I think £30 is a bit stingy

Former_MSE_Dan

Hi roddydogs,

It's Capital One and Barclaycard - further details are in the news item linked to in the top post

Cheers

Dan

wooders

cap one website application experiencing difficulties

wooders

WORD OF WARNING FOR EXSISTING CAP ONE CASHBACK CARD OWNERS

I've just asked them if they would enhance me to 4% from 1% as I've just recently got it, they suggested I close my exsisting account and open a new one. Thing is, to get the cashback in January, the exsisting account needs to remain open until then......
so if they say close........ensure you ask them for the already earned cashback as a customer sweetner or you could find you lose out.

I circumvented the whole lot and got the Missus to apply.....and she got accepted too

roddydogs

Yeh, but ive already got a Barclaycard i joined for the £50 a few months ago, and ive already got a Cap 1 which is now down to 1%. SWIZ

Milarky

I take it that the 'cap' (of £60 and £30) only applies to cashback earned at the 4% rate and not to extra spending (which should to eligible to cashback at the 'standard' rate)? Also, with Capital One card last year it was found that the 4% rate was applied for the first part statement period plus the next three complete statement periods. So maybe you can get 4x£1500 @4% here too?

[No, just answered my own question]

http://www.capitalone.co.uk/creditcards/capital-one-cashback-card.jsf

• 4% Cashback on purchases until 1st August 2008
• 1% Cashback on purchases thereafter
• Cashback is earned on the first £1,500 of purchases
  in each statement period

...but it does look like you can get 4 statement periods in before that deadline of 1 August doesn't it?

[Opps! another bit of crimping by Capital One!]

Interest free period
Maximum of 45 days for purchases where the balance is paid in full every month. 0 days for balance transfers and cash.

..is 56 days on old accounts

[Barclaycard information here]

http://www.barclaycard.co.uk/personal-home/cards/platinum-hero/platinum-with-cashback/index.html#inpageContent03

• 4% cashback on all spend (up to £30 per month) until 31st July 2008
• 0.5% cashback (up to £30 per month) until 1st January 2010

• and interest free period is the 'standard' 56 days
• it says existing customers may apply (or should call their 0844 number) but the lady I spoke to on the freephone number confirms you aren't eligible for this if you already have a Barclaycard Platinum card. However BC VISA customers can apply for a Mastercard - but I don't think it carries any special offers...

Biggles

roddydogs wrote: »

Yes great, but Who?

I agree, I hate seeing just a link posted, it's lazy. It shouldn't be too hard for the poster to include a bit of information. I already clicked on the thread title, I then expect to see more detail. If not I usually move on.

Chris2000

Milarky wrote: »

I take it that the 'cap' (of £60 and £30) only applies to cashback earned at the 4% rate and not to extra spending (which should to eligible to cashback at the 'standard' rate)? Also, with Capital One card last year it was found that the 4% rate was applied for the first part statement period plus the next three complete statement periods. So maybe you can get 4x£1500 @4% here too?

I just got my 4th statement on the old World Mastercard and I didn't get 4% cashback for the extra part month. Part of the statement period got 4%, the rest was at 1%.

Milarky wrote: »

..is 56 days on old accounts

The old World Mastercard with cashback had only 45 days. The only difference with this new version seems to be the £1500/month cap on spending for cashback.