1% cashback gone phut

[Simpo Two]

Oh well, just as I was gloating, it happened. Only 0.5% now, and nothing else out there that matches it, apart from Amex that nobody takes.

I see it as another move towards the 'negative interest' concept that I mooted a while back...

[mike9009]

If you are a Tesco shopper, you get 0.25% back in clubcard points which can then be boosted upto 4 times dependent upon what product you choose.

My clubcard points pay for annual joint RAC cover plus the majority of the kids birthday presents each year. It is worrying how much I spend though!

Mike

[PF62]

Simpo Two said:

apart from Amex that nobody takes.

Lots/most places now take Amex, unlike a few years ago. Those that don't tend to be the small retailers, and of the big high street retailers, the only one I can think of is B&Q.

If you are eligible to join Costco and are a train commuter, then the Amex/Costco card is good, aside from the normal 1% cashback, it gives back 2% on travel, which includes train season tickets with no upper cap (unlike Santander).

[PositronicRay]

Capitalone cashback has stopped, I'm going to use a Santander 123 card for UK use.
Shame the Capitalone cashback used to cover my December balance and then some.

[Simpo Two]

PositronicRay said:

Capitalone cashback has stopped, I'm going to use a Santander 123 card for UK use.
Shame the Capitalone cashback used to cover my December balance and then some.

How can 1% cashback cover 8.33% of your annual bill...?

I don't wish to be constrained by various deals, eg having to buy a pack of sausages every alternate Thursday or commute in blue trousers. Freedom is worth more than 1%!

Edited by Simpo Two on Friday 10th April 22:20

[mike9009]

Simpo Two said:

How can 1% cashback cover 8.33% of your annual bill...?

I don't wish to be constrained by various deals, eg having to buy a pack of sausages every alternate Thursday or commute in blue trousers. Freedom is worth more than 1%!

Edited by Simpo Two on Friday 10th April 22:20

Just to clarify, the Tesco card can be used anywhere and still get your 0.25% back. You are just restricted on where you can spend it....

[GT03ROB]

It's all the EUs fault.....

http://www.dailymail.co.uk/news/article-3034474/En...

[Simpo Two]

mike9009 said:

Just to clarify, the Tesco card can be used anywhere and still get your 0.25% back. You are just restricted on where you can spend it....

Fair enough. Well if that becomes the best deal I might get one, but at present 0.5 is more than 0.25.

GT03ROB said:

It's all the EUs fault.....

http://www.dailymail.co.uk/news/article-3034474/En...

Well it's really a money-go-round - just like Clubcard points. You're paying for it somewhere, it's just not obvious where. The test is whether the retailer, now enoying a better rate from its CC deal, passes the saving on or keeps it...

[GT03ROB]

Simpo Two said:

The test is whether the retailer, now enoying a better rate from its CC deal, passes the saving on or keeps it...

Let me think about that for a few seconds.......

Edited by GT03ROB on Saturday 11th April 13:56

[PositronicRay]

Simpo Two said:

PositronicRay said:

Capitalone cashback has stopped, I'm going to use a Santander 123 card for UK use.
Shame the Capitalone cashback used to cover my December balance and then some.

How can 1% cashback cover 8.33% of your annual bill...?

I don't wish to be constrained by various deals, eg having to buy a pack of sausages every alternate Thursday or commute in blue trousers. Freedom is worth more than 1%!

Edited by Simpo Two on Friday 10th April 22:20

I use the card for everything during the year car, fuel, household, holidays, drinks, meals, expenses, even some trades take paypal. Often my spring summer costs are £2-3k p.m. I'm a lot quieter during december, my bill is often only a couple of hundred.

[plfrench]

PositronicRay said:

Capitalone cashback has stopped, I'm going to use a Santander 123 card for UK use.
Shame the Capitalone cashback used to cover my December balance and then some.

I'm still getting Capital One cashback - how come yours has stopped? Did they write to you?

[PositronicRay]

plfrench said:

PositronicRay said:

Capitalone cashback has stopped, I'm going to use a Santander 123 card for UK use.
Shame the Capitalone cashback used to cover my December balance and then some.

I'm still getting Capital One cashback - how come yours has stopped? Did they write to you?

Yup letters going out, cashback stops 1st june.

[plfrench]

That's a shame. Oh well, all good things come to an end!

[Jockman]

Yup just had the letter. I'll still keep it but I've applied for a Santander 123 card through my current account. Might also have a look at Amex.

[iDrive]

If anyone is thinking of moving to 123 there are cash back sites that may pay for changing - at the mo I can only see one for the 123 Current Account, but there have been others for the CC too

[RicksAlfas]

Simpo Two said:

apart from Amex that nobody takes.

I suppose it depends on where your usual spending is, but I've had an Amex cashback card for years and use it for supermarkets, fuel, Amazon, Paypal, and looking at the statement, my wife has considerable success using it in Next, Boots, M&S and Boden, so you might find more people take it than you think.

[Shaoxter]

Grr I had 4% cashback on groceries and fuel on the Luma card...
Time to apply for the Santander 123 credit card I think. My TFL and fuel spend is quite a lot!

Simpo Two said:

Oh well, just as I was gloating, it happened. Only 0.5% now, and nothing else out there that matches it, apart from Amex that nobody takes.

Depends on where you shop but my non-Amex spend is minimal. For example if you're buying stuff online a few places won't take Amex directly but will take Paypal where you can link an Amex card.

[plfrench]

plfrench said:

That's a shame. Oh well, all good things come to an end!

Still not had a letter, and my latest statement doesn't say anything about it stopping, only how much cashback they owe me, and it seems to be increasing as expected in relation to the spending... weird.

[Simpo Two]

It seems to depend on what type of Capital One card you have. Mine has been reduced from 1% ot 0.5% but my neighbour's has been reduced to zero.

And so when all credit cards offer no incentive, I wonder which one will be the first to offer an incentive...?

[bestinshow]

plfrench said:

plfrench said:

That's a shame. Oh well, all good things come to an end!

Still not had a letter, and my latest statement doesn't say anything about it stopping, only how much cashback they owe me, and it seems to be increasing as expected in relation to the spending... weird.

My letter arrived yesterday, stops 1st June