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Santander credit cards: 4.5 million Brits to transfer credit card balance

New research from Santander credit cards has revealed 4.5 million Brits intend to take advantage of introductory balance transfer periods this year.

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5 January 2010

Santander credit cards: 4.5 million Brits to transfer credit card balance”

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These credit card holders will move more than £3.2 billion between credit cards between January and March of this year, the survey found.

However, the average amount transferred has decreased from £2,290 last year to £1,140 this year.

This is because Brits have paid back record levels of unsecured credit during the last year, according to Santander cards.

Director at Santander Cards Emma Roberts commented on the results of the survey: "It's encouraging that so many Britons are planning to take control of their finances in the New Year by transferring an outstanding credit card balance to a 0% deal."

Holders of the Santander credit card can benefit from 0% on balance transfers for 15 months. The card has a typical variable rate of 15.9% APR.

There is also 0% on balance transfers on the Virgin credit card for the first 16 months from the date on which the account is opened.

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Credit Cards	Balance Transfers	Purchases	APR Representative (Variable)
	Tesco ClubCard Purchases Credit Card
	0^% 9 months 2.9% fee	0^% 16 months	16.9^%
Representative Example: The annual purchase rate is 16.9% p.a (variable) so if you spend £1200 your representative apr will be 16.9% p.a (variable)
	Barclaycard Platinum with BT (26 Mths)
	0^% 26 months 3.5% fee	0^% 6 months	18.9^%
Representative Example: The annual purchase rate is 18.9% p.a (variable) so if you spend £1200 your representative apr will be 18.9% p.a (variable)
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