Many Brits Set to Switch Credit Card Companies

Posted 2008-01-2

If the advertisements offering 0% interest on a new credit card have lured you into considering switching credit companies, you aren’t the only one. According to an Abbey study of over 1,000 adults, what would equate to three million British consumers plan to switch credit card company in 2008.

 

The study looked at genders and locations and found that eight percent of men and seven percent of women said they would transfer companies. Men averaged a balance of £3,395, whereas women averaged £1,820 in credit debt.

 

As for locales, the credit debt to be transferred in the Midlands averaged £3,021; for the south-east of England £2,900; for northern England it averaged £2,501; Scotland averaged £2,154; and in Wales and the south-west, the average sum was £2,022.

In response to their study, Roger Lovering, managing director for Abbey Credit Cards reflected a positive note, that, “it’s great to see that many people are already turning their attention to getting their finances in order. 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.”

Leave a Reply