The survey found that almost a quarter (23 per cent) of UK credit card holders carry more than one card balance and three million are unsure of the rate of interest these cards carry.

Almost two million card holders are not sure how much they owe on their cards, and almost half (45 per cent) of those who have two or more outstanding credit card balances actually only use one of their cards on a regular basis.

To avoid confusion and spring-clean their borrowing, card holders could benefit from swapping to a single low rate card, Capital One advises.

“Transferring balances on to a single card with an interest rate that stays flat offers a simple solution for many trying to manage multiple credit card accounts,” said Dan Cobley of Capital One.

Sixty one per cent of those surveyed said that the most attractive cards on offer are those with a very low rate of interest.

Click here to find out more about zero per cent credit cards.

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