January 15th, 2010 
admin 
According to research by Santander Cards, more than 4.5 million Britons are planning to transfer over 3.2bn of debt between carry to the credit of one’s account cards in the first three months of 2010, myintroducer.com reports.
It is thought that people will be looking to move their balances `to take advantage of introductory balance transfer periods`.
The number of Britons looking to transfer credit card fault has increased by a third compared with the same time a year ago.
Director at Santander Cards, Emma Roberts, said: “The number of people transferring balances has risen year without interruption year, whilst the amount being transferred has fallen dramatically; this is a clear sign that consumers are becoming savvier when it comes to managing their finances.”
A spokesperson for company Gregory Pennington commented: “It is important to bear in mind that transferring credit card debt to a card with a lower interest rate will not actually reduce an individual`s debt. It may help them manage their debt in the short term, but card holders should make sure they think about how they`ll actually clear their shortcoming.”
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Tags: Card Debt, Debt