New research from Abbey has found that more than £7 billion pounds will be transferred between credit cards during the first quarter of 2009.
Shedding any extra weight gained at Christmas will not be the only pounds shifted by Brits in the New Year, according to a new survey.
Abbey found that three million people will move £7 billion - upwards of £2,000 each - between their credit cards between January and March, in order to get their finances in order. The reason for doing this is to make use of introductory balance transfer periods, the firm said.
"The New Year is an ideal time for people to review their finances and by transferring a credit card balance to a card with a zero percent introductory offer, consumers can ensure they are managing their finances as effectively as possible," said Callum Gibson, head of credit cards at Abbey.
However, despite the highly-publicised problems in the financial world and the commitment of many consumers to have a more sensible approach to their finances in the future, less money will be switched than during the same period in 2008, when £8 billion was moved.
The public's reliance on credit has been cited as one of the reasons for the current economic downturn. Research conducted at the end of last year by Sainsbury found a group of "everyday" credit card users who use their plastic for purchases of £20 or less.
But this group - 7.55 million strong - were also found to rarely have problems paying off their balances.
