Capital One card offers increased cashback levels for first three months

Over recent years cashback credit cards have become increasingly popular amongst UK consumers that want to make some money from credit card companies rather than having to pay these companies for the privilege of using a credit card.

These cashback credit cards offer a certain level of cashback – usually between 0.5% and 0% - on purchases made on the card. However, these cards are only really viable for those that intend to repay their balances in full each month, as otherwise interest charges will counteract the benefits of earning cashback on your spending.

Cashback levels on these credit cards can vary from one credit card provider to another. However, the cashback credit card offered by Capital One is offering consumers the chance to earn impressive cashback levels for the first few months. The Capital One cashback credit card offers an impressive 4% cashback on purchases made on the card in the first three months. After the initial three months the cashback level falls to 1%. The APR charged on the card is 15.9%, but this will not affect those that are repaying the balance in full each month.

In order to qualify for the cashback credit card from Capital One you will need to be earning a minimum salary of £10,000 per year. Balance transfer rates on the card are 14.9%, although consumers are advised to transfer any balances on to a 0% balance transfer credit card in order to avoid paying any interest and using the Capital One cashback credit card only to make purchases and pay the balance back within the 56 day interest free period before any interest is charged. Consumers should also remember not to conduct cash transactions on the card, as these will not earn cashback and will instead incur fees and charges.

Tom Smith
6th August 2007