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Borrowers could be advised to take out a bad credit loan as a new study reveals an increasing number of consumers are being refused credit cards.

Research by MoneyExpert indicates that some 2.8 million people saw their card applications turned down over the last six months due to a rise in bad debt.

Chief executive of the price comparison website Sean Gardner said: "Anyone with debt problems who is hoping for an easy way out by taking out another credit card is liable to find that they’ll be turned down."

Mr Gardner added that although some borrowers who genuinely need credit are being excluded, he reported "people should not be encouraged to get deeper into debt" as interest rates continue to rise.

The study also revealed that ten per cent of Britons have been rejected for a range of financial products.

However, James Jones, consumer manager for Experian, claimed that the majority of consumers use loans "wisely".

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