Cahoot plans to rival EggBoots tie up

Cahoot, the Internet bank, is looking to develop a credit card with a retailer or service company to compete with rival Egg’s credit card deal with Boots.

Cahoot has spoken to companies about the idea but has not yet found a partner that meets its criteria.

Cahoot marketing and business development director Tim Sawyer says the card would allow consumers to collect loyalty points that could be redeemed with a hotel chain or airline. He says: “We’re fixated with the cost to the customer. We don’t want to introduce a card with a high APR. It’s about finding a partner that buys into that philosophy.”

Cahoot was launched as a division of Abbey National in June 2000 and has 166,000 customers.

Its marketing campaign, through EURO RSCG Wnek Gosper, says the bank “defies convention”. It offers an interest rate of 6.2 per cent on its current account and a typical rate of eight per cent on its credit card.

Cahoot launched a flexible loan this month, allowing customers to borrow and pay back money when they want, within an agreed limit.

Recommended

One 2 One announces marketing restructure

Marketing Week

One 2 One’s marketing chief Clent Richardson has unveiled a new marketing communications structure, which integrates the mobile operator’s business marketing team with the centralised brand group. The 20-strong business marketing team, which operated as part of the business unit headed by David Henson, will now work in the centralised marketing group under marketing director, […]

TfL launches £20m traffic charge pitch

Marketing Week

Transport for London (TfL) is inviting agencies to pitch for a £20m project promoting London Mayor Ken Livingstone’s proposed congestion charges for the capital. As TfL is a separate contracting authority from the Greater London Authority, the pitch is not limited to the three agencies – BMP DDB, Soul and Euro RSCG Wnek Gosper – […]

Trouble in the pipeline for Esso

Marketing Week

Corporate vilification is the modern-day nightmare for marketers. Once, it was a case of a product failing to live up to performance-related claims in one market. Now, it is the fear of consumers biting back and targeting a company on a global scale for perceived misdemeanors or misplaced morality. Exxon Mobil is the latest company […]