Who gives a Cahoot. Me (Cahoot)

Member Name: ultras67

Product:	Cahoot
Date:	30/09/01 (93 review reads)
Rating:

Advantages: Low interest rate, web access

Disadvantages: could be complex working out best fee method, long application time, silly name

If you dont pay off the full balance of your credit card every month by applying for and using a Cahoot Visa issued by Abbey National you could save yourself a lot of money.

The credit card is a fairly standard offering with the option to transfer your balance from another credit card, so far so normal, but the normal interest rate is an excellent 8% APR. There is a uniquely an option of how you work your account. You can opt for a pure interest rate – 8%APR, a flat monthly fee £15.60 or a combination 7.2% APR and a fee of £7.80. Because Cahoot is the web offshoot of Abbey National, you can access your account all year round from the comfort of your PC. Another good idea is the ability to have SMS messages sent to your home ie if your account is nearing its credit limit etc.

Until the beginning of November every successful application will also receive a £15 pounds Amazon voucher. I just wish I had known they were going to run the promotion as I got my card a few weeks ago. Typical !

Because it is issued by Visa it has all the normal advantages -acceptable in thousands of places in the UK & worldwide, cash advances and so on.

So far, I can find nothing to fault the process or card and have had no problems whatsoever. If it continue this way I will be well glad and may well keep this as my main card. As you might tell from the reviews I have written about credit cards I have had a few as I am a serial card hopper. If someone gives me a better rate or a good introduction gift,I am offski.

A couple of drawbacks are trying to work out which fee structure is going to be best. Obviously the bigger the balance you have rolling over each month, the more likely the monthly fee options will be better for you but it will take careful calculation to work out which. Also the online application took me about 20 minutes to complete, a bit too long I feel.

Summary: