Increased cash back level period from Capital One
Capital One Bank is offering credit card customers to enjoy an increased level of cash back for a specified period on its cash back credit card, enabling those that are eligible and suited to a cash back credit card to earn more for spending on the card. Cash back credit cards have become popular over recent years, enabling those that do not spread repayments on their credit card balances to earn money for using their credit card in the usual way.
Most credit cards that offer cash back offer around 0.5% - 1% on purchases. No cash back is given for cash transactions that are made on the card. It is important for consumers to remember that in order to benefit from the cash back feature on these cards they do need to repay the balance in full each month, otherwise any cash back earned will be counteracted by the interest that is charged on the credit card.
For those that are able to repay their balances in full and do use their credit cards regularly, Capital One is offering a cash back credit card that pays 4% cash back on purchases for the first three months, which means that customers can earn impressive amounts of cash back over this period, and the more that is spent on the card the more cash back the cardholder will receive. The card is available to those that meet eligibility requirements including a minimum salary of £10,000 per year.
Following the initial three month period the cash back level of the Capital One credit card falls to 1% on purchases, and the interest rate will be 15.9%. However, for those repaying the balance in full each month there will be no interest to pay but the cash back can still be earned.
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