A benchmark against which products can be compared against. CAT is an acronym for 'Charges, Access, Terms' and the mark is a government seal of approval on an individual savings account (ISA) - the replacement for the personal equity plan. Requirements under each of the headings ensure that the product is flexible and of good value.

CAT stands for Cost, Access and Terms. Personal finance products with a good value have a cat mark. It is the government’s approval rating for that specific product. ISA’s and credit cards are examples.

Cat stands for 'charges, access, terms' and the mark is a government seal of approval on an individual savings account (Isa) - the replacement for the personal equity plan. The aim is to show investors that the plan is simple, cheap and easy to get out of. For example, stocks and shares Isas should carry annual management charges of no more than one per cent. Unfortunately, what it doesn't show is whether or not the fund manager is actually any good. Cheapest isn't always best. Still, it's a step in the right direction.