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Brits plan credit card transfers in 2009, says Abbey

It's not unusual for people to plan to shift a few pounds after the festive period, but more than seven million Brits intend to move pounds of another kind in the first quarter of 2009, according to Abbey Credit Cards.

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29 December 2008

Brits plan credit card transfers in 2009, says Abbey

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Research by the financial services provider suggests around seven per cent of the population will move more than £7 billion between credit cards in the three-month period in order to take advantage of introductory balance transfer periods.

People in Scotland and the north of England are most likely to transfer a credit card balance, the study indicates, with eight per cent intending to do so.

Callum Gibson, head of credit cards at Abbey, comments: "The new year is an ideal time for people to review their finances and by transferring a credit card balance to a card with a zero per cent introductory offer, consumers can ensure they are managing their finances as effectively as possible"

The new Abbey credit card offers no annual fee.

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Credit Cards	0% Balance Transfers	0% Purchases	APR Representative (Variable)
	Tesco ClubCard Credit Card
	9 months	15 months	16.9^%
16.9% APR representative (variable). Based on a credit limit of 1200 and purchase rate 16.9% p.a(variable).
	Virgin Credit Card
	20 months	3 months	16.8^%
16.8% APR representative (variable). Based on a credit limit of 1200 and purchase rate 16.8% p.a(variable).
	Barclaycard Platinum with BT
	22 months	3 months	17.5^%
17.5% APR representative (variable). Based on a credit limit of 1200 and purchase rate 17.5% p.a(variable).
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