Finance Choices
Cahoot Credit Card
The Cahoot Credit Card
You may remember the advertisements for Cahoot credit card on TV featuring people searching for the mythical Cahoot, well the Cahoot credit card is far from mythical, it offers a long term standard low rate. There are no introductory offers, nothing to cloud your mind and to confuse you, just one long term low standard apr of 12%. The Cahoot brand is actually the online branch of Abbey, so you can be rest assured that you are in the hands of one of the most respected UK banks.
The Cahoot credit card won many awards when it was first launched as it was the first credit card that offered plain and simple terms with additional benefits that should keep cardholders content. These benefits range from cash back offers to shopping discounts, all of which can change from month to month so it is better to check their web site for the latest offers.
The more you review the Cahoot Credit Card the more you begin to find yourself getting very excited about this card and starting to feel the urge to apply now.
Summary
The Cahoot credit card has one of the lowest standard rates available in the UK. It doesn't offer any special introductory rates or offers only on balance transfers or purchases, they simply offer just 12% typical APR on purchases and balance transfers whenever you use it. When compared to some of the other credit cards on the market that offer up to 18% APR you could make a huge saving. cashback offers are also made on selected purchases. A choice of card design, online applications & account management and free purchase protection mean this card is a very exciting proposition.
Apply now
You may remember the advertisements for Cahoot credit card on TV featuring people searching for the mythical Cahoot, well the Cahoot credit card is far from mythical, it offers a long term standard low rate. There are no introductory offers, nothing to cloud your mind and to confuse you, just one long term low standard apr of 12%. The Cahoot brand is actually the online branch of Abbey, so you can be rest assured that you are in the hands of one of the most respected UK banks.
The Cahoot credit card won many awards when it was first launched as it was the first credit card that offered plain and simple terms with additional benefits that should keep cardholders content. These benefits range from cash back offers to shopping discounts, all of which can change from month to month so it is better to check their web site for the latest offers.
The more you review the Cahoot Credit Card the more you begin to find yourself getting very excited about this card and starting to feel the urge to apply now.
Summary
- The standard rates vary from 10% to 15% apr (12% typical APR variable) depending on your circumstances
- Regular cash back offers click here (changes regularly, check out cahoot web site)
- Win £1000 discounted from your credit card balance in the monthly prize draw
- Manage your account online
- Winner of Money£acts 'Best Credit Card (Standard Rate)'
- Free purchase protection
- Up to six weeks interest free credit
- Flexible repayment options to choose from which could lower your apr further
- The latest technology to safeguard your details
- Greater security with CHIP and PIN
The Cahoot credit card has one of the lowest standard rates available in the UK. It doesn't offer any special introductory rates or offers only on balance transfers or purchases, they simply offer just 12% typical APR on purchases and balance transfers whenever you use it. When compared to some of the other credit cards on the market that offer up to 18% APR you could make a huge saving. cashback offers are also made on selected purchases. A choice of card design, online applications & account management and free purchase protection mean this card is a very exciting proposition.
Apply now
posted by Barbara Gordon at 10:39 AM
Cahoot Credit Card
7 Comments:
I have been a cahoot member for a couple of years now, and I have had no reason to complain.
They got better! If you have a cahoot credit card or flexible loan (both at competetive rates - i wont state them here, because they change so quickly these days).
If you transfer £1500 to either or both of these accounts before the end of Feb - they GIVE you £50 - if you do both they GIVE you £100 - how good is that!
If you also find a 0% deal elsewhere, you can then tranfer your cahoot balance onto that card - there is no lock in period.
Is this the consumer getting their own back - maybe!
I've had a current account with Cahoot for the last 4 years, and a credit card (CCC) with them for the last 2 years. As far as their credit card is concerned this is a standard Visa card, which now comes with a pin number security chip built in, making it more difficult for fraudsters to copy or use when stolen. But all new CCs now have this feature.
Each month you are informed by e-mail that your CCC statement is available online. No paper statements are sent out. If you request one it will cost you £2. The rates for the card seem competitive, currently 10% APR, with 11.7% APR for cash advances. But if you make a late payment, you are subject to a £25 charge in addition to interest payable. The same charge applies if you exceed you credit limit as well. Also using your CCC to withdraw cash from a machine will cost you £1.50 for up to each £100 withdrawn. Try using your CCC abroad, and you get charged commission of 2.25% of what you spend. Nationwide and M&S CCs charge you nothing for this. As others have pointed out you don't get any extras, eg air miles etc for what you spend with your CCC, so all in all it's not such a great deal as you might at first be led to believe.
But things get worse. When I went to buy a pair of spectacles last year, the shop's CC reader failed to accept my card. In the end I had to use my debit card. At a number of other retailers, I've experienced similar problems, but there is no consistency. Petrol garages have not presented a problem, until 3 weeks ago, when trying to pay for some petrol on my CCC, I was told my card was invalid. Again I paid with a debit card. When I got home I checked on the Cahoot website, and to my astonishment I discovered I no longer had a CCC account. No communication from Cahoot had warned me about this. Angrily, I rang them up and demanded an explanation, but after ploughing through their records, Cahoot could not offer one. I had never exceeded my credit limit with them, and had always paid my CC bill by direct debit. In the end they told me they would issue me a new CCC, put my account back on, and apologised for the inconvenience. Then 2 days ago a new CCC arrived as promised. The only trouble is that the 'start' and 'expiry' months and years happen to be the same, with less than 2 weeks for the new CCC to run. Again I rang up Cahoot, who once more were at a loss to explain this new balls-up. At this point I concluded the hassle was not worth it, and decided to cancel my CCC. Clearly their admin staff are a bunch of idiots.
I decided I will be making an official complaint to Cahoot, not that it will make a lot of difference, but I still will continue my current account with them for the time being, as so far that has been relatively trouble free.
An interactive bank that lets you choose from three credit card options; the one you choose should be based on the way you use your credit card. Whether you always pay off your credit card balance in full, or if you never do, cahoot have the account option that is designed specifically for you. They are a division of the Abbey National Group, giving you added security and reassurance.
Unlike the majority of credit card companies at the moment, Cahoot offer a simple cheap credit card. It doesn't give you air-miles everytime to spend a fiver, or get you free tickets to a robbie williams concert, but it does offer a low APR and ease of use.
Whereas most cards will sit about 10 - 16% APR Cahoot is around 8%. There is no 0% APR for the first six months and then a huge increase to 14%, just 8% all the time.
It is easy to apply for, just go to the Cahoot website, fill in the form and wait for an e-mail. I got my card 6 days after completing the from.
You also get a "Web Card", that enables you to just click on an icon on you desktop when asked for credit card details. This helps with added security, the card details are sent electronically to the recipient so you don't have to root about in your wallet and type them in.
If you spend money on your card, then leave it for a couple of months before you pay it off, this is a cheap way of doing it.
Ive been using the cahoot webcard for a while purchasing items over the internet without much problem. However I purchased a subscription to a website (nothing smutty but I dont want to reveal their name because it isn their fault). I gave the webcard number with a low credit limit, enought for one months subscription. Cahoot has paid the last 3 months subscription meaning the card number is over its limit and the card number should have expired.
This is the email they sent me:
After investigation the original transaction that you made to the company with the webcard, I can see that this was for a subscription. As a result funds have been debited from your cahoot account on a monthly basis.
Even though you had set a limit on the webcard, as long as the payment amount is below what is known as the 'floor limit' of the retailers, they are able to debit funds using the card number without the need to request authorisation from the bank. Therefore not providing cahoot the opportunity to decline the transaction. This, unfortunately, is within the Visa Regulations.
The only way to stop future payments from being made you will need to approach the retailers and request cancellation of the subscription that you originally signed up for.
Obviously this may be true and it is my fault, I should have remembered to cancel my subscription.
However I dont see in the point in the webcard if they are going to pay the subscription even if it is over a credit limit you have set and over its expiry date.
This is indeed worrying, and I'd challenge Cahoot over this if I were you. I can't see anything in the Cahoot webcard T&Cs that cover subscriptions - by definition, one wouldn't think a webcard can be used for subscriptions because it's a one-off amount that is authorised by the cardholder.
A webcard expires within a month - - so how can Cahoot go on paying month after month from an expired card?
I have had a Cahoot credit card for over 6 years and I have never had a problem with them. From the moment I joined it has been smooth sailing. They have a good interest rate and their online account management is very simple and also appears more secure than other finicial sites I have to access to manage my money.
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