UK adults own an average of 1.2 cards

Financial service provider Morgan Stanley has released a study showing that the average number of active credit cards in the UK is 1.2 for every adult.

Cards with expired zero per cent interest offers were found to be the most likely to be at the back of a wallet.

Around one in seven dormant cards is a ‘Big Four’ credit card, according to Morgan Stanley, while 45 per cent of British adults are carrying credit cards which they haven’t used in the last year.

Conversely, cards with reward schemes, such as airmiles, are the most likely to be at the front of their owner’s wallet and in use on a regular basis.

Patrick Muir, marketing director for the Morgan Stanley credit card, said: “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.

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

Some 2,000 cardholders were questioned for the survey, which considered customers’ current cards and the regularity of their usage as well as cards which are currently out of use.