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PPI claim news: Providers offer more credit card deals

People who have been mis-sold payment protection insurance (PPI) on their credit cards in the past are among those being targeted by new promotional deals offered by providers.

According to a new study by financial comparison website, lenders are attempting to lure potential credit card customers with promises of extended low interest periods.

Although the average APR has risen to 18.41 per cent in recent weeks, the website's head of banking Kevin Mountford suggested that the average length of promotional rates offered by banks is at a record high.

The average length of zero per cent balance transfers has reached 22.4 months - a significant increase on the figure of 16.2 months in January 2011.

"There is no doubt that the appetite for lenders to attract new customers has increased," commented Mr Mountford.

A recent survey conducted by the Post Office showed that more than 12 million credit cardholders will rely on their plastic to pay for utility bills and other essential household payments this month.

Jennifer Haines

Jennifer's speciality knowledge is credit card changes and balance transfers. ADNFCR-2776-ID-801258572-ADNFCR

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