The Best 0% Purchase Credit Cards | moneyfacts.co.uk
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Derin Clark

Derin Clark

Online Reporter
Published: 01/05/2020

A 0% purchase credit card can be a good option for those wanting to borrow a small amount of money and who will be able to pay back the full amount within the interest-free term. While some banks have cut their interest-free terms on 0% purchase credit cards in the last month, there are still some highly competitive deals available.

Here we take a look at some of the best 0% purchase credit card deals available in the charts.

The best 0% purchase credit card with the longest interest-free term

The 0% purchase credit card with the longest term that does not have any opening restrictions or monthly fees comes from MBNA Limited. Its 0% Transfer and Purchase Credit Card Mastercard offers an interest-free term of 26 months, after which it charges 20.9% APR. This card also allows balance transfers, but charges a fee of 2.89% for the first two months and then 5.00% thereafter. It is available to those with a minimum income of £14,000.

The best 0% purchase credit cards being offered by supermarket banks

Sainsbury’s Bank also offers an interest-free term of 26 months on its Dual Offer Credit Card Mastercard, but this card is only available to Nectar members of at least six months. Once the interest-free period ends it charges 20.9% APR. It allows balance transfers, but charges a fee of 3.00% or a minimum of £3.00. A minimum income of £10,000 is needed for this card. It also comes with the incentive of new customers earning 750 bonus Nectar points each time £35 or more is spent on Sainsbury’s shopping, up to 10 times in the first two months, up to a total of 7,500 points. After this, customers can earn two Nectar points per £1 spent on Sainsbury’s shopping and fuel and one Nectar point for every £5 spent elsewhere.

Tesco Bank also offers a competitive 0% purchase credit card. Its Clubcard Credit Card Purchases Mastercard offers an interest-free period of 20 months. Once the interest-free period has ended it charges 19.9% APR. To apply for this card, a minimum income of £5,000 is needed. The card comes with the incentive of earning one point per £4 spent (£4 minimum) in Tesco and one point per £8 spent (£8 minimum) outside Tesco. The card can also be used as a Clubcard to collect standard points at one point per £1 spent on shopping and one point per £2 spent on fuel. Points are converted to Tesco vouchers, which can be used towards shopping or exchanged for Partner Rewards. In addition to this, this card also offers no fees on Tesco travel money.

The best 0% purchase credit cards with incentives

Santander’s All in One Credit Card Mastercard offers the incentive of 0.5% cashback on purchases, however borrowers should note this card charges a £3 monthly fee. This card has an interest-free period on purchases of 26 months and it also offers free balance transfers during this period. Once the interest-free term has ended, it charges 21.7% APR. A minimum income of £7,500 is needed to apply for the card.

Will you be accepted for a credit card?

Your credit score will impact whether or not you are accepted for a credit card and the APR you are given. You can check your credit score for free here.

Disclaimer

Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.

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