The end of cashback and points for UK credit cards?
Recent EU regulations have significantly lowered the interchange fees that UK credit card companies can charge retailers, leading to substantial changes in cashback and rewards programs. CapitalOne has already announced the closure of its popular 5% cashback card to new applicants and a reduction in benefits for existing customers, signaling a shift in the credit card landscape. The impact may extend beyond cashback options to include alterations in points and miles programs.
