Win a £100 John Lewis Voucher with Capital One

This competition is now closed

The winner, selected by random.org, is number 60.

Congratulations to Dawn!



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Earlier this year I attended a round table event, hosted by Capital One, where we discussed their Credit Made Clearer campaign and YouTube Channel:





Now Capital One would like to know what you know about Cashback.

As an incentive to complete this quick survey of just three questions, Capital One are offering a £100 John Lewis voucher to one lucky participant.

To enter the prize draw, by completing the survey, please click the link below:

(the survey opens in a pop-up window)


 


If you would like to add any further information, please leave a comment below.


Capital One supplied me with the following useful information on cashback:

For most of us, using a credit card is mostly associated with special or larger purchases. One off items like holidays, presents, gig tickets and festivals and such: credit card. Every day essentials like groceries and takeaways: cash / debit cards. It’s easier for those of us who are particularly budget conscious to keep an eye on what’s coming in and (most importantly) going out of our accounts.

However, did you know that many credit cards offer cashback on products that you purchase? This isn’t like getting cashback on your debit card – it’s normally a small percentage of your purchases credited to your account on a regular basis. Obviously though, it’s not a good idea to put lots more purchases on your credit card – if you don’t pay off the full amount each month, the money you are getting back is going to be instantly wasted on interest payments!

That said, for spending that you’ve already got planned, it’s a good way to put your credit card to good use. You need make doubly sure that you pay off your balance every month. You can do this via Direct Debit, but keep an eye on your bills and map out these purchases carefully to ensure you’re not overspending.

Quickfire Facts

· Cashback credit cards have become increasingly popular as they offer potentially a better way of generating a return from spending than debit cards

· Capital One believes that cashback cards potentially offer a better way of earning a return on spending than many current accounts

· Savvy consumers who actively manage their finances can generate fantastic rewards each year from cashback credit cards. Consumers who pay their credit card balance in full each month currently holding a card offering other benefits, such as zero percent on new purchases, could be better served by switching to a card offering tangible cash rewards

· However, not all cashback cards are created equal – customers should choose cards that work hard for them

· Around 2.9 million (35%) of cashback card holders use their cards for less than 40% of their monthly spending while 1.8 million (22%) pay for 80% or more of their monthly outgoings with this type of card*

· With 55% of current accounts now paying 0% interest and another 28% paying 0.1% per annum or less, according to Moneyfacts, cashback cards offer a potentially better way of earning a return while spending than debit cards**

*1ICM research surveyed 2,013 British Adults via online omnibus from 6th-8th October 12th – 14th May 2010. The results have been weighted to nationally representative criteria. Calculations regarding cash back rewards have been made using the omnibus research and applying this to the latest ONS Family spending Index data. Calculations based on standard industry cashback rate of 0.5%.

**http://moneyfacts.co.uk/news/banking/the-fall-and-fall-of-current-account-interest-rates/


Terms and Conditions for the prize draw:

• UK only.
• One entry per person.
• Complete the survey to be entered into the draw.
• The survey closes at 8am on Wednesday 14th December 2011.
• I will select one winner, from all fully completed surveys, on 14th December 2011 using Random.org.
• I will then notify the winner by email, asking for their address.
• I will pass their address to Capital One who will send out the prize.
• If there is no reply to my email within 7 days, the prize will be re-drawn.

 Good luck!





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