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O/T - Capital One Credit Card Stopping Cashback on 31st May - any alternatives?
- Thread starter Papak
- Start date
seagullsovergrimsby
#cpfctinpotclub
An EU regulation was passed in Brussels last month which means from October all providers of cashback credit cards will be in the same position.
chimneys
Well-known member
- Jun 11, 2007
- 3,589
Will that EU Reg have the same effect on credit card company profitability on their balance transfer offers as seems ludicrous those paying off their debts will get hit but not those who don't?
Always thought American Express was closest comparable to the Capital One cashback card so will prob switch to them till the inevitable you suggest will happen.
chimneys
Well-known member
- Jun 11, 2007
- 3,589
Thanks.
On the American Express point I note the article says:
"The price cap will not apply to so-called three-party card schemes, such as Diners and American Express, which involve only one bank. Commercial cards used only for business expenses will also be exempt from the new price cap."
Therefore looks like American Express is the best option (presuming they are still doing their cashback deal).
On the American Express point I note the article says:
"The price cap will not apply to so-called three-party card schemes, such as Diners and American Express, which involve only one bank. Commercial cards used only for business expenses will also be exempt from the new price cap."
Therefore looks like American Express is the best option (presuming they are still doing their cashback deal).
Brian Fantana
Well-known member
Yep, this.
It's doesn't apply to American Express and Diners card specifically issued by those providers. As the majority of other credit cards are either Visa or Mastercard, I imagine the new regulations are designed to tackle that near monopoly.
- Thread starter
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