As the credit crunch and recession accelerate in 2009, there is a fear that consumers will be issued with lower credit limits on their cards. This not only means lower spending limits for customers, but if they are trying to balance transfer to clear their debt they may be unable to do so. It will also mean that it will be difficult for those with less-than-perfect credit ratings to get the best deals.

The Bank of England cut interest rates in early 2008 to encourage spending, but there is no guarantee how long this reduction will last. Falling interest rates do not directly impact credit card interest rates but they do impact banks' ability to lend, making them fussier in terms of who they give credit cards to.

18, 000 credit card applications are being rejected daily in the UK, with 3.24 million applications having been rejected in the past six months. One in ten applications from the 25-32 age group has been rejected.

To minimise the effect this has on your spending, credit cards should only be used for their main purpose (i.e: not making purchases on a balance transfer card).