The report, which looks into the credit card habits of the British public, showed that although there are a great deal more available credit card accounts than there are eligible holders in the UK, the majority of these accounts are dormant.

Around one in seven dormant cards is provided by the ‘Big Four’ banks – NatWest, Barclays, HSBC, and LloydsTSB – while the least likely form of credit card to be relegated to the back of the pack is a card with rewards linked to spending.

“There has been much speculation about the increasing use of plastic in the UK but our report shows that British cardholders are perhaps more savvy than they have been given credit for,” noted Patrick Muir, Morgan Stanley Credit Card’s marketing director.

“Millions of cardholders are taking advantage of loyalty schemes for their everyday spending, with these cards least likely to be lying idle in wallets,” he added.

Credit cards with expired zero per cent offers were the most likely to be unused.

To read more about credit cards, click here.

© Adfero Ltd