Both banks now have a highly competitive interest-free purchase period.
Clydesdale and Yorkshire Banks have upped the 0% purchase period on their Gold credit cards to 20 months.
You get 12 months interest-free on balance transfers too, with a 3% balance transfer charge. There’s no annual fee and an attractive 18.9% APR.
What’s more, the cards are contactless, so you can pay for items up to £20 without having to enter your PIN, so just touch and go.
In for the long haul
To give you an idea how the Gold MasterCards compare to the competition, we’ve rounded up the best of the bunch. Here are the longest 0% purchase cards available right now.
|
Credit card |
0% period |
Representative APR |
|
23 months |
16.5% |
|
|
20 months |
18.9% |
|
|
20 months |
18.9% |
|
|
Halifax Purchase Credit Card |
20 months |
18.9% |
|
19 months |
18.9% |
|
|
19 months |
18.9% |
|
|
Lloyds Bank 19-Month Platinum |
19 months |
18.9% |
|
Bank of Scotland 19-Month Purchase |
19 months |
18.9% |
|
18 months |
18.9% |
|
|
17 months |
18.9% |
*Annual fee of £24
[SPOTLIGHT]The Santander 123 card offers the longest 0% period around at 23 months. And it comes with the added bonus of cashback on your spending of up to 3%, depending on where you shop. However, there is a £24 annual fee to take into account.
If you don't want to worry about a fee, the Clydesdale and Yorkshire cards are now your best bet, along with the Halifax card which also offers a 20-month 0% period.
But don't discount the M&S Credit Card and Tesco Clubcard for Purchases, which offer loyalty points whenever you spend on top of a lengthy 0% period. You collect one point for every £1 spent at M&S or one point for every £2 spent elsewhere on the M&S card. With the Tesco card you can earn five Clubcard points for every £4 you spend in Tesco stores and garages and one point for every £4 spent elsewhere.
If you don't mind a slightly shorter interest-free period, you can get two Nectar points for every £1 spent Sainsbury's with the Sainsbury's Nectar card and a point for every £1 spent elsewhere.
Are these cards right for me?
A 0% purchase card is a good idea if you have big purchases on the way that you will need to pay off in stages. Think something like a new kitchen or boiler, or perhaps even a wedding.
You must make sure that you meet your repayments on time, otherwise the 0% offer may be withdrawn.
You should also sit down and work out how much you will need to pay each month in order to clear the balance before the 0% period comes to an end. Then set up a standing order, so that you don't have to pay a penny in interest.
Will I get the card?
The top 0% deals are saved for borrowers with a good credit rating. If you have missed repayments or have other blackspots in your financial history, this could seriously work against you. The best way to find out where you stand is to have a look at your credit report. You can find out where to check out your credit record for free over in our credit report comparison centre.
And if your record needs some work, follow our tips in How to build an excellent credit history.
More on credit cards:
The best 0% money transfer credit cards
What damages your credit rating