Brits will transfer billions between credit cards

According to Santander cards, 4.5 million Britons will move over 3.2 billion pounds between credit cards during the first three months of 2010. The credit card company said that ‘rate tarts’ – those seeking a hot introductory offer to transfer their balance to, has soared.

However, despite this, total volumes are likely to be down. According to Sanrander, borrowers in the South East will transfer an average of 1,800 pounds per person. Under 55s were the most likely to make a switch, with 17% of this age group considering a move.

Santander offer several credit cards, including the Zero Card . The bank will plan to launch a Zero current account in the UK this month.