GRAHAM HISCOTT

Banks have scaled back a credit card war, figures suggest. Providers were falling over themselves to offer ever-longer 0% interest balance transfer deals, stoking fears of a debt-fuelled credit boom.

But research by Moneyfacts found the longest 0% deal has come down from 43 months in April to 40 months now.

The number of zero-interest balance transfer deals has also dropped from 126 to 119, it said.