Credit cards’ 0% offer periods have been getting longer and longer over recent years, meaning card holders can avoid paying interest on new purchases for almost three years now.
We look at what’s on the market and ask if 0% offer periods could get even longer.
Compare 0% purchase cards
Find a credit card with an interest free period for purchases.Find a 0% purchase card
What is a 0% purchase card
A 0% purchase card enables you to make new purchases without paying any interest on the card’s balance for a set period of time.
This makes them useful to help spread the cost of large purchases, such as holidays or furniture. Watch our video below to learn more.
AA – longest 0% offer
The AA have extended their 0% interest offer for purchases to 32 months, edging them ahead of their competition to take the top slot.
Sainsburys – second place
Sainsburys, the reigning champion, have been knocked down to second place.
However, the retail rewards make this card still well worth looking at, especially if you’re a regular Sainsbury’s shopper or Nectar point collector.
Post Office – longest 0% combo period
This card from Post Office offers 30 months for purchases an balance transfers, so if you want to dodge interest on both your new purchases and existing card balances, this could be the card for you.
Will 0% offers for purchase cards ever pass the three year mark?
If current trends are to be believed they might well do.
It’s worth keeping an eye out around September and January, as these months are seasonal peaks when many providers and banks will bring out new market-leading credit card offers as they jostle for the top slots in the credit card business.
However, it’s worth bearing in mind that the spectre of an interest rate rise is still haunting us, and with the Bank of England looking set to crack down on “risky” lending, we might soon start see the cost of credit going up again for the first time in years.