More than three million Britons are expected to transfer a credit card balance in the first three months of 2009, figures show.
Research by Abbey Credit Cards reveals that the total value of such transactions will be in excess of £7 billion, making an average balance of £2,000.
According to the firm, credit card balance transfers have become something of a yearly tradition, with around £8 billion being transferred during the same period last year.
Callum Gibson, head of credit cards at Abbey, said: "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."
People who switched credit cards can also benefit from other introductory offers such as interest free purchases and cashback deals, he added.
Last month, research by MoneyExpert.com revealed that ten per cent of adults are still paying offer credit card debts from Christmas 2007.
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Britons aim for credit card transfers
Mon, 05 Jan 2009
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