The number of interest-free credit card deals is virtually back to the levels seen in the summer of 2008, new research has suggested.
According to Money Net, two years ago there were 80 zero per cent balance transfer cards on the market, of which 39 were for 12 months or longer, while one year later the number of zero per cent cards fell to just 52.
Today, however, there is a choice of 71 deals offering Britons the chance to switch to a zero per cent credit card, which suggests the appetite for new business risen.
The recently-launched 16-month zero per cent deal from Yorkshire Bank and Clydesdale Bank is another example of this increased desire to attract new customers, Money Facts said.
However, the website warned that while it is positive to see "new products being launched and availability back up to 2008 levels, lenders will still be operating very tight credit scoring strategies".
Meanwhile, American Express recently launched a credit card that taps into the demand for premium rewards from business and leisure travellers.
Using the new card, consumers will have the chance to get complimentary hotel nights and room upgrades as well as VIP concert tickets .
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Credit card balance transfer market is recovering
Fri, 07 May 2010
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