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.
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.