CapitalOne offers 'market leading cashback deal'

A new CapitalOne cashback card with no limit on how much money can be earned has been praised by the Moneyfacts website.

The Platinum Cashback Card by CapitalOne was announced this week, offering four per cent cashback on the first three months of purchases followed by one per cent subsequently.

While the card can present customers with savings, it is not for everyone.

Lisa Taylor, of the Moneyfacts website said that the card offered one of the most attractive cashback deals.

She added: "For anyone who repays their balance in full, a cashback card can be a great way of getting something for nothing from your card provider.

"But this kind of card is not for you if you don’t repay in full each month, as any benefit and more will be wiped out by interest charges."

Ms Taylor also praised the provider for offering two competitive credit card offers in one week.

CapitalOne’s Platinum card guarantees zero per cent interest on balance transfers until May 1st 2008 with a 1.7 per cent balance transfer rate.