Switching credit cards is becoming an increasingly popular method for manging debt. UK credit cards users are expected to transfer around £1.1 billion each month between cards. According to Sainsbury’s Finance a total of 716,000 people intend to switch credit cards each month.

Research carried out by the company found that the average balance transfer is around £1,555. Worryingly one in ten of those questioned said they intend to transfer more than £4,000.

But those planning to switch cards need to look carefully at the terms. Of the 80 or so cards that currently offer 0% APR on balance transfers, one third only offer this for six months or less. The average interest free period on balance transfers is around nine and a half months.

"Although there are a number of credit cards offering introductory 0% on balance transfers, there is a considerable difference in their duration so people need to choose carefully,” comments Donald MacLeod, Head of Cards at Sainsbury's.  “Also, when choosing a card for a balance transfer, it is  worth considering what else it offers. For example, we offer 0% for a whole year on Sainsbury's purchases as well as earning Nectar points equivalent to 2% cash-back.”