New research has found that more than one in ten consumers has been rejected for a credit card application in the last 12 months.
A study by uSwitch.com claims that two million consumers were turned down for balance transfer deals in the last year.
This has been attributed to credit card providers tightening their criteria.
uSwitch.com claims that 'rate tarts' have been the worst hit consumers, with £3.5 billion of credit card being left on "interest bearing credit cards" as a result of the rejections.
The firm has warned that being rejected for a credit card could also be detrimental to a person's credit score.
Louise Bond, personal finance expert at uSwitch.com, said: "We can't ignore the fact that the country is in economic turmoil - a situation which has been catalysed by bad consumer credit."
Research by Tescocompare.com recently found that 14.6 million Britons have cut back on their credit card expenditure as they look to reduce their overall debt levels.
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