Research has suggested that zero per cent interest on balance transfer credit cards are still the most popular type of plastic.

A study conducted by the Fair Investment Company highlighted that 21 per cent of respondents listed zero per cent balance transfer as the most important feature in a credit card.

Competitive rates and no annual fee were joint second factors that people take into consideration when applying for a new card with 18 per cent of people ranking them as important.

Features which offer nothing to the consumer were deemed the least important, with just three per cent of respondents claiming that design played a role in selecting a card.

A number of people (11 per cent) said that a card which was free to use abroad would be their top choice.

Meanwhile, it was recently reported that Brits are finding it harder to switch financial products such as mortgages and credit cards, with MoneyExpert.com noting a 17 per cent drop in the number of people switching such products.

Consumers are being warned that store cards do not offer a “quick fix” to their financial problems.

According to Credit Choices, increasing numbers of people are opting for store cards over credit cards.

The company quotes Debenhams chief executive Rob Templeman as saying that people are relying on store plastic as they are using their credit cards to pay for everyday bills.

It adds that over the past six months 1.8 million UK credit card holders have had their credit limit reduced, with thousands having their credit cards taken away from them completely.

However, Chris Eagle, commercial manager at Credit Choices, states that borrowing money on a store card is the most expensive way to do so, due to the high interest rates,

“Consider applying for and using an adverse credit card before relying on a store card,” he adds.

Meanwhile, according to a Fair Investment Company poll, zero balance transfers are the most popular credit card feature among consumers.

Credit is reportedly becoming more expensive, which could be bad news for anybody relying on their credit cards to pay for day-to-living costs.

Research conducted by Moneyfacts.co.uk highlights that since the beginning of the year there have been numerous increases to the rates and charges that people pay for using their credit cards.

It notes that in the past five months alone there have been 22 purchase rate increases, 15 cash rate increases and more than 30 increases to fees such as balance transfer fees and cash withdrawal fees.

The financial website asserts that credit card providers are tightening their criteria, making it difficult for anyone with a less than perfect credit rating to get a competitive deal.

“However, for those with an exemplary credit record there are still good deals to be had,” it adds.

The company advises that when looking to apply for new plastic consumers should think about how they use the card and opt for one which is suitable for their needs.

Recent research from the Fair Investment Company highlighted that people are increasingly opting for credit cards which offer financial incentives rather than ones which look attractive or make donations to charity.