We have conducted high-speed photometric observations of the suspected cataclysmic variable V747 Cyg. The literature data about the spectra of this star are conflicting. Zwitter and Munari [A&AS 107 (1994) 503] obtained spectroscopic observations which confirmed the cataclysmic variable nature of V747 Cyg, whereas Downes et al. [AJ 110 (1995) 1824] have concluded that this object may be a Be + M binary rather than a cataclysmic variable. Our observations revealed the complete absence of the rapid flickering in this star at a millimagnitude level. This phenomenon is to be inherent in all cataclysmic variables. Instead, the lightcurves of V747 Cyg showed probably periodic smooth low-amplitude variations that were visible during each observational night. When V747 Cyg was observed in two colours simultaneously, these variations had the equal phases and amplitudes. A periodogram analysis revealed probable periods of 5.77, 7.41 and 7.59 h. These periods and the amplitude as well as the oscillation behaviour in the different colours are typical of variable Be stars. Hence, V747 Cyg may be a variable Be star but not a cataclysmic variable.