Although six in ten say a credit card which offers them consistent value across the board would incentivise them to become loyal, lasting customers, many seemed to be taking their eye off the ball when it came to getting value for money.

Not all cardholders exploited their cash-back options or reward schemes, the Post Office found, while those who did get money back received around £37 a year on average.

Meanwhile, almost half of credit card holders said their cards offered no benefits at all, yet a third of us stick with a single card for five years or more.

The top benefits sought by customers were low interest rates, zero per cent on balance transfers, and zero per cent on purchases, the Post Office’s research revealed.

Last week, a study from loans11.co.uk showed that many UK consumers are willing to choose convenience over value when it comes to taking out credit card debt or loans.

Find out more about taking out a Post Office credit card

© Adfero Ltd