Recent data from the Moneyfacts UK Unsecured Lending Trends Treasury Report reveals a significant increase in competitive credit card options for borrowers. As of December 2023, the number of interest-free purchase credit cards has risen to 62, up from 57 in December 2022, and the average interest-free term has extended to 262 days, compared to 244 days last year. This growth in options is particularly beneficial during the festive season when many consumers are managing their holiday spending. Notably, Barclaycard has introduced the longest 0% purchase offer at 22 months, along with a 19-month balance transfer deal. Additionally, other lenders like NatWest have also extended their 0% purchase and balance transfer offers. This competitive landscape not only provides consumers with more choices but also encourages better financial management during a time when many are looking to make the most of their spending without incurring interest.
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