3.2million are juggling their finances across five or more credit cards

And despite concerns about the credit crunch, many are still spending way beyond their means and racking up crippling debts, research shows.

Thirty per cent of Britons have applied for another card in the past year.

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The report, from the price comparison website MoneyExpert.com, warns that many consumers are now in "real financial trouble" trying to keep up with mortgage repayments or to make the minimum payments on other debts.

Its chief executive Sean Gardner said too many borrowers are using their credit cards in the wrong way.

"There has to be real concern if people are using cards to keep their head above water," he added.

"It is entirely healthy if people are swapping debts from one card to another, taking advantage of 0 per cent deals to ensure that they pay as little interest as possible.

"But anyone who is trying to juggle five or more credit cards and owes money on all of them is in real trouble."

The research shows that 3.2million have five or more cards. Adults between the age of 35 and 44 are the worst offenders, according to the research, with nearly one in ten admitting to having five or more credit cards.

At this age, many have young children, and, when questioned, said their finances would reach "breaking point" if one parent had to give up work to look after their family.

Last night experts urged people to get their debts under control amid signs that the major banks are clamping down on credit card borrowing.

Egg has already written to 161,000 of its "risky" customers warning them that their credit cards would be frozen within 35 days.

Other banking giants, including Barclaycard, claim that they have turned away nearly 50 per cent of applications for new loans in the past few months.

Earlier this year, a report by accountants KPMG cited credit card spending as one of the main reasons borrowers get into serious debt.

It claimed 130,000 Britons will become bankrupt this year or make a deal with their creditors, known as an Individual Voluntary Arrangement.

A typical person taking out an IVA owes £50,090, and they usually have more than five credit cards, it found.

The news that millions are struggling to balance their books comes as the charity Joseph Rowntree Foundation warned that repossessions could soar up to 100,000 this year - the highest number on record.

The charity says only a minority of homeowners have insurance which will pay their mortgage if they lose their job.