Analysis from moneyexpert.com, the financial services website, shows that by the time the deals end, the interest rates may have risen considerably and might catch consumers unaware. The average APR on standard balance transfers has increased by 0.75% so far this year, up to 16.1% from 15.35% at the beginning of the year.

Sean Gardner, director of Moneyexpert.com remarked: "Credit card companies continue to offer good, lengthy 0 per cent deals on balance transfers, and customers should continue to take advantage of them. However part of the consideration process should be the go-to rate, particularly as more and more people will not be in a position to clear their balance in full once their deal expires. As money is tight, paying off the credit card is more difficult and that means you'll have to rely on the standard APR of your credit card provider, or of course switch again."