Santander has, reportedly, launched a new purchase credit card that offers zero percent interest for 18 months.

Santander is followed by Halifax that offers zero percent interest for 17 months and Tesco Bank offers 16 months with added bonus of loyalty points on shopping.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

The move by the lenders is to focus on balance transfers credit cards to attract customers, who are looking to get rid of their debts, reported Mail Online.

The purchase credit card by Santander also comes with nine months interest-free on balance transfers; however, a 3% transfer fee will be levied on the customer.

Santander is also offering a 29-month balance transfer offer on one of its newly launched credit card.

Though, the purchase credit card does not carry any annual fee, the bank charges 29.8% interest on credit card cash withdrawals, and 18.9% on borrowing.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.