Is your credit card a one-trick pony?

Two months into the new year and it feels like déjà vu with credit card firms hell-bent on pushing interest-free deals.

If you're considering a new card, all the adverts and price-comparison providers continue to try to direct you towards the longest interest- free plastic on the market.

One of the downsides of this promotional blitz is that some of the more versatile cards, offering a range of flexible features, are often overlooked. Another is that the interest-free breed may not be a good fit for some people, and they could be better off taking out a low-rate credit card, with no introductory gimmicks, that they can stick with for years.

While promotional balance-transfer offers may allow borrowers to cut their interest costs, if they use them wisely, too many people are "treading water" and continually shifting their debt just to keep repayments manageable.

It's now possible to get up to 40 months of free credit on balance transfers, but watch out for the transfer fee – almost 3 per cent in some cases.

Another issue often overlooked in the rush to sign up is the rate when the introductory 0 per cent deal ends. In some cases it touches 20 per cent APR.

If you're disciplined enough to take advantage of the 0 per cent period and repay your balance at minimal cost, that's fine. But otherwise some cards have a wider range of attributes and a more favourable long-term interest rate.

No-gimmick, low-rate cards such as Lloyds Bank Platinum at 6.4 per cent APR, AA Low Rate at 6.9 per cent and Tesco Clubcard at 7.8 per cent all make a good companion for your wallet.

Other examples of excellent all-round cards include MBNA Everyday Plus at 7.4 per cent with no charges for use abroad, and Nationwide Select at 15.9 per cent APR with 0.5 per cent cashback and commission-free purchases overseas (for Nationwide current account customers).

The Halifax Clarity credit card, a longstanding favourite of holidaymakers, is worth a look too – although it is less of a standout deal since it increased its rate to 18.9 per cent APR in line with the vast majority of cards.

These cards deserve to be highlighted in the shop window rather than hidden away under the counter.

Families concerned about the rising cost of living

This week's Family Finance Report from Sainsbury's bank revealed that despite green economic shoots and low inflation, most people in the UK are not overly optimistic about their finances.

Despite wages rising by around 2 per cent in the past 12 months and consumer price inflation averaging just 0.02 per cent last year, almost half of those interviewed by the bank said they felt no better about personal money matters than they did in 2015.

Three-quarters admitted to having some financial concerns and a quarter said their biggest money worry was the cost of living. That's not surprising with higher council tax bills on the way and the additional insurance premium tax taking a further bite out of household budgets.

Nearly one in ten people said their main financial concern was not receiving a good enough return on their savings –a surprisingly low proportion considering the appalling rates. And as if these concerns weren't enough, we've now got the Brexit referendum.

Andrew Hagger is an independent personal finance analyst from www.moneycomms.co.uk