31 December 2007
Britons will be switching credit card providers in their droves in the New Year, Abbey have said.
According to the financial services firm, 7% of card holders - or three million Britons - are to make the switch, taking advantage of balance transfer deals and saving money in the process.
If Abbey's figures are correct, this would mean that a total of £9 billion will be moved between companies.
Roger Lovering, Managing Director of Abbey Credit Cards, said: "January credit card bills can often catch people by surprise, so we would encourage people to keep a check on their finances over the festive season and plan ahead to ensure they aren't paying over the odds for their plastic.
"It's great to see that many people are already turning their attention to getting their finances in order."
Abbey's research found big regional variations in switch rates - with those living in the South East almost twice as likely as Scots to undertake the process (9% to 5%).
Men (8%) also had slightly higher switch rates than women (7%).
© 2008 Adfero Ltd
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