Santander has added 18 months interest free credit on purchases to its Santander 123 credit card.
The new 18 months interest-free offer makes it ‘one of the longest’ purchase offers on the market.
In addition to this, the Santander 123 credit card’s APR has been cut from 22.8% to 16.5%.
New and existing cardholders will be able to spread the cost of large purchases across 18 months.
As with all introductory offers, the length is subject to status and application, so not all customers will be guaranteed the exact rate or 0% interest-free period as advertised.
Cashback and annual fee refund
The Santander 123 credit card comes with an annual fee of £24, but this will be waived if you already have or apply for a Santander 123 current account before the end of 2014.
The credit card already provides 1% cashback on purchases at all major supermarkets, 2% cashback at all major department stores, and 3% cashback at all major petrol stations and on national rail and Transport for London travel.
One of the longest 0% interest offers
Contactless technology has also been added allowing customers to pay quickly for items that cost £20 or less.
Reza Attar-Zadeh, head of retail products at Santander, said: “With one of the longest 0% interest offers on purchases, a new low APR and up to 3% cashback on purchases, the Santander 123 credit card is ideally suited to every day spending, and a competitive shorter term borrowing option for larger purchases.”
The card is now at the top of the purchase credit cards ‘best buys’ along with the Tesco Clubcard credit card for purchases.