February 27, 2018
My cash back visa card used to payout automatically on a yearly basis. Then some over paid bean counter thought... hey, let's change the rules because Canadian's as a whole are very stupid and with this being canada, we as a big business can basically do whatever we want.
1) cash back payouts will now only be made at the request of the card holder. If the card is canceled for whatever reason ALL unclaimed rewards will be forfeited. Their selling point to this was... WATCH your cash back rewards grow even bigger.
2) The cash back reward percentage was reduced from 1% on ALL purchases to 1% on some purchases (automatic billing, grocery) 0.5% is now applied on most purchases. Their selling point to this was... items purchased using your cash back card now have an extended warranty, beyond the manufactures warranty.
I can guarantee you, my cash back rewards card has NEVER and will NEVER payout an extended warranty claim. I did not read what the claim hurdles are but again i must stress this is canada. So, i can imagine. Item must be unopened and in it's original purchased condition. No fingerprints can be on packaging. If purchased item has been dropped, then gravity is at fault ALL claims must be forwarded to the estate of Sir Isaac Newton.
October 21, 2013
December 12, 2009
If you like the card, don't cancel your card at all. It's worth pointing out that the employee who leaked the data wasn't a Capital One employee; she was an Amazon Web Services LLC employee (or a contractor working on behalf of AWS). As well, by her own admission and subject to forensic audit to verify her claims, she didn't sell customers' data. She did this as a sort of protest move, ostensibly to expose lax data security of companies and/or the healthy profits derived from credit card operations. And, in the end, companies that have data breaches are arguably more secure than those that haven't had a data breach or that haven't publicly reported one because they will be most keen (required, even, by regulators) to correct their shortcomings.
As well, since she was an AWS employee, that exposes a fundamental weakness not only in the security of Amazon.com and Amazon.ca customer information, including credit card data from many other issuers besides Capital One, but in virtually every other company globally since AWS has a sizable percentage of the global Fortune 500 businesses as major clients.
So, on that basis, I would be more comfortable with Capital One and Desjardins than I would be with a TD Canada Trust or a Scotiabank. 😉
December 26, 2018
December 29, 2015
October 21, 2013
Is there any reason not to accept the Capital One 2-year offer of credit monitoring and identity theft insurance? Would accepting it impact your class action lawsuit eligibility, for example?
I think you should get that question answered by a lawyer. Why not phone one of the class action legal groups?