Seven per cent of British credit card holders intend to move almost £9 billion to new credit cards in the New Year as they look to get their finances in order, according to Abbey.

The lender's credit card division has revealed that an average of £2,666 a day will be switched in the first quarter of 2008, with men looking to switch more than women.

Higher living costs could be one reason why those in the south-east of England are almost twice as likely as those in Scotland to transfer balance across cards.

"It's great to see that many people are already turning their attention to getting their finances in order," said Abbey Credit Cards managing director Roger Lovering.

"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," Mr Lovering continued.

Britons spent 3.8 per cent more in the run up to Christmas this year compared to last, according to new figures from Mastercard.


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