Credit card firms are extending the number of zero per cent deals they offer as competition heats up, it has been claimed.
According to Darren Cook, head of press and PR at Moneyfacts.co.uk, Capital One now offers a credit card with zero per cent interest on purchases and balance transfers until September 1st 2009.
Mr Cook said: "While there has been growing concern in the credit card market, with a reduction in the number of applications accepted and providers increasing rates for both purchases and cash, the deals on offer at the top end of the market have not been affected."
However, anyone who does take out such a credit card should not treat it as a "licence to spend" as the balance must be repaid.
Yesterday, Fool.co.uk suggested that people could use interest free credit card to manage other, more expensive forms of debt . This can be done by using cash advanced on the card to pay off loans .
News Side
Credit card firms extend zero per cent deals
Tue, 03 Jun 2008
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