A new report on how consumers choose their credit card products has shed light on why many fail to eliminate their debt.
Research from Fool.co.uk has shown that eight out of ten credit card holders choose credit cards based on the credit card companies brand and reputation, potentially meaning they end up with nowhere near the best deal.
Finance website the One Stop Finance Shop commented: "For consumers who have stuck with their credit card for loyalty reasons only, it could be a great time to consider their alternative options."