Advantages: Competitive APR, logical web layout Disadvantages: Procedural problems, slow response to emails
...which I subscribed was a Cahoot credit card, several years ago. This is a summary of my thoughts and experiences over that time.
WHY CAHOOT?
I was attracted to Cahoot because the company was set up as an affiliate of the Abbey National group. Whilst the Abbey National is not necessarily the most competitive bank on the high street, I have always received good service from them and as a first stab at Internet banking, I was inclined to go with a ... ...TERMS AND CONDITIONS
The Cahoot credit card is different from other card service providers, in that you are offered three different account options.
Option 1 – Interest Only
This option is targeted at users who seldom carry a balance because there is no monthly fee, and if you do carry a balance, then you will be charged a lower APR (currently from 7.0%).
Option 2 – Interest and Fee
This option is targeted at users who frequently ...
LostWitness 13.06.2002 (29.08.2003)
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Ciao members have rated this review on average: very helpful Review of Cahoot Card
Advantages: Secure purchasing on the Web Disadvantages: Such a hassle trying to apply for it
...On the face of it Cahoot had nothing to interest me.
Until, that is, I read a small article on the Web. It was one of those regular articles that bemoan the insecurity of doing any sort of financial transaction online. Now, I don't know if you are like me but I must admit that buying things on the Web does fill me with a certain nervousness. Revealing details of bank accounts and credit cards, as you have to, is not something that I do without considerable ... ...The way that the Cahoot Webcard works is that it is a "virtual" debit card. It does not exist in a physical form, only as software. What makes it secure is that you can only use it once. So, what use is that if you have to apply for a new debit card each time you use it? Well, actually, that's not how it works. What can only be used once is the debit card information; the debit card number, the expiry date and the security number. After that is used ...
grahamft 02.08.2008
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Ciao members have rated this review on average: very helpful Review of Cahoot Card
Advantages: good rate, convenient to use Disadvantages: I have to start paying interest soon
...Why not keep them together? cahoot was making an offer too good to ignore.
For a full year from opening my account in June last year I pay absolutely no interest on my credit card, and no charges for maintainance. While balance transfer was not available I simply used the card for all spending for a couple of months and used the money I saved to clear my old credit card. Dead easy!
Of course it won't stay free, but in June I will have an annual ... ...Not bad for a credit card. Other options include a fee free card with a higher apr, designed for people who usually clear their balance monthly. If I could clear mine monthly I woudn't need it in the first place!
Apart from the great rate there are other benefits. I can make transactions online, checking for debits and credits and authorising payments. It is also ideal for web shopping as they give a gaurantee if goods are not delivered/faulty and ...
colinlivingstone 07.03.2001
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Ciao members have rated this review on average: very helpful Review of Cahoot Card
Advantages: See review Disadvantages: You still have to pay the bill eventually
...am currently using is the Cahoot Visa card, which is the Internet card supplied by Abbey National.
What attracted me most was the fact that this card has the lowest interest rate available in today’s competitive market, with its current APR rate running at only 8 per cent.
You can apply online by going to their website at www.cahoot.com, and you’ll get a provisional clearance back within minutes in most cases.
You manage your account ... ...your old credit card, then Cahoot also offer a very good rate for anybody wanting to transfer their balance, that varies from between 7% to 11% depending on your individual credit limit.
They also have deals running with a few online companies, one of who are the large computer manufacturers Dell, and you can also get yourself a free Wap phone if you sign up with BT Cellnet via Cahoot. This is currently a Siemens C35i, complete with a home and in-car ...
flooda 26.04.2001
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...just this. Now Cahoot was special, and remains so, it was not only Low Rate, it was No Rate, so I took the card, drew the money from the cash machine and put it straight in the bank, setting up a direct debit to make the minimum payment each month. I also took advantage of my remaining credit (you can't withdraw all your credit as a cash advance) by using it for my spending and instead of paying off my bill in full making the payment into my savings ... ...cold to start with, but Cahoot has changed all that. I have been so impressed with their handling of the credit card offer that last week I took the plunge and started to transfer my current account to them. I'm convinced that if the internet is the future, then banks of the future need to look to emulate the performance, offers and rates of banks such as Cahoot if they want to retain customers and capture the next generation of customers. It doesn't ...
IainCMartin 05.08.2001
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Ciao members have rated this review on average: very helpful Review of Cahoot Card
Advantages: good APR Disadvantages: no online balance transfer facility
After initially signing up to Cahoot for an interest only credit card account due to the initial offer of 5% cash back on balance transfers. For me this was a diamond offer I could not refuse, unfortunately they have not carried on with this offer so other Credit cards initial offers seem very attractive for a short-term debt transfer repayment. SO HOW MUCH ARE THEY RIPPING ME OFF FOR:
The interest rate is very low compared to other online credit ... ...credit card that frequently using Cahoot makes sense with its low cost of ownership. For medium-term borrowings you can pay a monthly fee to Cahoot to use the lower interest rate band for use with larger credit amounts.
WATCH OUT YOUR IN THE SECRET SERVICE:
Login into your Cahoot account is a lot simpler than Egg as you have to just enter your username, password and a choice between memorable year, place, and mothers’ maiden name. Why other ...
Deviant 16.05.2001
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Ciao members have rated this review on average: very helpful Review of Cahoot Card
I was attracted to Cahoot by an article in the financial press that seemed too good to be true. The deal on offer was 5% cashback on your first two balance transfers to the card. There were no strings attached.
The online application process was a little slow but fairly easy to navigate. It was slowed a little by the flash images but well within my normal tolerance levels.
Acceptance was notified immediately but there was no reference to the deal ... ...This is not an introductory rate but long term. I understand that most people are offered 8% but my credit rating is obviously very good.
I queried the offer by E mail and was told that I would receive details with the mail confirmation. This duly arrived. I then transferred a total debt of £7100 to the card from my other two credit cards. My account was immediately credited with £355. Success!
I transferred the balance again to another card with ...
Frank613 05.01.2001
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Ciao members have rated this review on average: very helpful Review of Cahoot Card
Advantages: competitive interest rates, friendly helpful staff Disadvantages: took a while to set up due to demand for accounts
...lured by the offer from Cahoot of taking off 5% on balance transfers (that's £100 for £2000 which is not to be sneezed at).
There are a range of different credit cards that you can take out charging different fees and/or interest rates depending on how you use your card. For instance I was transferring over a large amount and wouldn't be using my credit card often at all, concentrating more on paying off the balance. They explain which each card ... ...they truly try and tailor the credit card to your needs. There are other ordinary bank accounts available with them as well, being a part of the Abbey National means at least it's not a fly-by-night dot com that may go bust and can offer you other finanical services if you wish to take them up.
Filling out the application form online was dead easy and I had no problems, however there was a great deal of toing and froing prior to Christmas in filling ...
corman 05.04.2001
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Ciao members have rated this review on average: very helpful Review of Cahoot Card
Advantages: Great deal if you got in early enough Disadvantages: Service is pretty average
...the 0% APR on my cahoot card at the very beginning and I didn't have any trouble (although many did) in setting it all up.
I have had a few problems since: one purchase was billed to my account twice but this was resolved within 36 hours of my e-mailing cahoot about it.
One on-line purchase with my card was not processed either and required a phone call to sort it out.
I have also to say that the service has been much worse as far as my current ...
TheSmudger 30.09.2000
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Ciao members have rated this review on average: very helpful Review of Cahoot Card
Advantages: Free Money for a year, balance tfr, easy view Disadvantages: communication of new fascilities, slow web site
Fortune was on my side- 0% Apr for 11 months!!
Application process was painfully slow. I had lost my password to log on to the site to activate my account, but fortunately the customer service advisor issued me with another, but omitted to tell me that the new password that I changed to could only be used once to change my password. I was also not told that my new password that I input should not have the same alphabet/numeric number could not be ... ...off, but could not get back in again because the password given to me by the customer advisor could not be used again!
I had also enquired about balance transfers initially, and was informed that that fascility was unavailable. When it was made available, customers were not informed of this, via e-mail etc. I had phoned up with a general enquiry, and I enquired about balance trabsfers that I knew about the availability of the service.
Hey......but ...
Advantages: Paper-free, good customer service Disadvantages: Processes lag behind other credit card companies
I have been a Cahoot credit card account holder for about six months, but have only actively used the account for
three months, so it's early days for me.
I was attracted to the Cahoot Credit Card as they seem keen to tailor credit card packages to your individual lifestyle. They have options for three types of customers - those who pay the full balance monthly; those who always carry a balance; and those who sometimes carry a balance. All three ... ...pay by offering a balance between fees and interest payments. All three options are well suited to the relevant types of customer.
There was a special offer to the first customers who signed up for 0% APR and no fees until July 2001 - I was one of the lucky people to be offered this, so I was impressed from the start.
The website is average - they have used colour and graphics, but they lend little to the site and at times make the site slower ...
LostWitness 15.12.2000
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Advantages: Free money, just for sending them your card bill Disadvantages: You need to be in debt first
...of months of having the cahoot credit card I am pleased to report that cahoot seem to be giving me a period of extended free credit - as I planned belwo I set my account to be paid off in full to avoid any interest charges but as yet each month cahoot have failed to collect the money from my cahoot corrent account. i have notified them at least and they say everything is in place - yet still the money is owed to them and they are not charging me ... ...business.
previous opinion:
Cahoot make being in credit card debt a pleasure as the more you owe your current card provider the more they pay you!
I have just got my second tranche of money having joined cahoot in January
the first thing I did was send them my £4000 Natwest mastercard bill - the promptly paid it for me and reduced my balance to £3800 which has yet to be charged. As this was my card limit I then paid £1800 off it this week so ...
amrit 13.02.2001 (28.04.2001)
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Advantages: Good security Disadvantages: Could load faster, problems with refunds
...I could still use. However, Cahoot offers a novel solution in the form of a virtual credit card, in addition to their regular Visa card.
When you want to pay for an on-line item, you click an icon and after a few seconds loading time, this brings up a card-sized form for you to log in and enter the maximum amount you wish to pay (remember to allow for postage, VAT etc). Another click and a few more seconds loading time, and another image appears, ... ...money refunded to a card after it has expired. In this case it seems you can't avoid giving your real card number to the supplier, and this compromises the card security. Maybe Cahoot will find a way round this problem, but until they do I can't entirely recommend this product. ...
robert1 12.02.2003 (16.05.2003)
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Advantages: Free money Disadvantages: Higher rate than other cards if you stay
...killer for me is the Cahoot credit card. TV and tube ads announce this as a fresh idea, and it sure is. Transfer the balance of an existing credit card, and get 5% cashback. How can you lose? The answer is, you can't.
Open an account online and get a £5000 limit if you can. Transfer £5000 over, a process which you can only do by post and takes about 10 days, for £250! If you want to be really clever, use an existing card and take out as much money ... ...transfer the balance over to Cahoot for the cashback, then pay the bill from your savings. £250 plus a couple of months interest. Note that Cahoot's interest rates certainly aren't the lowest, although they're good, so the incentive to use the card lessens after the initial 5%. Card surfers will probably want to transfer their balance off to a card with a lower rate as soon as possible.
I opened an account online in December, now have my card and ...
psipple 10.01.2001
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Ciao members have rated this review on average: helpful Review of Cahoot Card
Advantages: 5% cashback and relatively low APR Disadvantages: unusual criteria for allowing succesful application
...two credit card balances to Cahoot and be given 5% back on each. The minimum transfer in each case is £100 and the maximum depends on the credit limit (generally £3000).
Now the crafty bit is that once you have your cashback (seen as a reduction in the balance) transfer the sum to an ultra low apr credit card. I have now transfered 2 balances of £3000 and thanks to Cahoot i am £300 better off.
Even if you keep your debt at Cahoot the APR is only ... ...The main disadvantage of the Cahoot credit card is that you don't know if you are elligable for it until all the online forms are completed. There must be quite strict criteria as i have heard that not everyone is successful- in fact my husband was declined and he has an excellent wage and no credit problems. - While i got one and i am a full time mother!!
As i see it what have you got to lose? but be quick - the offer is only until end of feb i ...
zappashouse 11.02.2001
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