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.