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Home > Finance > Banking & Personal Finance > Tax-Free Savings Providers
Bank misleads customers over rates 1 of 16 Ciao Users found the following review helpful
Rating from phoenixbbs 1 Star ()

Advantages appear cheap

Disadvantages but falsely advertise rates

I have just gone through the sign-up process and discovered that they mislead customers with offers of a low introductory rate.

Here`s an extract from an email i`ve just sent them:

---
I was a little disappointed to find you mislead customers about the effective APR on your website - I only discovered this when I got to the "tailor" part of the sign-up process.

Your main page claims an 7% APR (not an introductory rate), and an illustration elsewhere has:

credit limit £3000
monthly interest rate 0.5650%
monthly fee £0
APR³ (purchases and balance transfers) 7.0%
APR³ (cash advances) 8.6%

Yet when I got to the "tailor" part of sign-up, I got instead:

cahoot option 1 - interest only
APR : 10.000%
Monthly Interest Rate : 0.797 %
Monthly Fee : none
Credit Limit : £6000
---


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  • phoenixbbs 21/03/2003 19:03

    I think I deleted their response, but it was along the lines of "come back and finish signing up before we discuss it"

  • ariadne 21/03/2003 18:36
    Rated this review as
    		Somewhat Helpful

    It would be helpful to update your review with Cahoot's response to your complaint. x

  • griffiti 17/11/2002 19:34
    Rated this review as
    		Somewhat Helpful
  • zoe_page 12/11/2002 12:10
    Rated this review as
    		Not Helpful
  • mortimus 11/11/2002 21:16
    Rated this review as
    		Somewhat Helpful
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