0% Purchase Credit Cards. Compare & find lenders who are more likely to say yes
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- What is a 0% purchase credit card?
- Would you like to spread the cost of your purchase, interest-free?
- Find out how a purchase card can help you
Have you been thinking about getting a credit card? If you would like one to allow you to spread the cost of your spending, then a 0% purchase credit card could be a good option for you. It will allow you to make many small purchases or even a larger purchase, without having to pay all at once.
If you’d like to find out about getting a 0% purchase credit card to manage your spending, we’ve put together a short guide to help make your decision. It also features everything you need to look out for when comparing credit cards from different providers – find out more below.
How does a 0% purchase card work?
If you would like to make a purchase and spread the cost rather than paying all at once, one way is to apply for a 0% purchase credit card.
This gives you a promotional period (say 12 months) where you will not have to pay any interest at all. If you exceed this period, you will then have to start paying interest on the remaining balance.
For example: if you were to buy a washing machine, the seller can sometimes give you the option of a finance deal to spread the cost. This will usually come with added interest that will be added onto your repayments. By getting a 0% purchase card, you can spread the cost yourself and pay no interest, as long as you pay it off before the end of the promotional period.
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Although initial eligibility checks involve a soft search of your credit information and report (which has no impact on your credit file), any lenders or credit providers may subsequently conduct a hard search, prior to finalising your loan or credit offer.