A financial services group is trying to tap into the pink pound with the launch of the UK's first gay credit card.

The Queercard is being pioneered by Accucard, which hopes to learn more about the spending habits of the gay and lesbian community.

The card, which has Queer written across it in large letters, will be available in a range of colours, including pink and purple and is aimed at people who are "gay and proud of it".

A more discreet card simply has Q card written on it in small letters.

The company has teamed up with Queercompany.com, a lifestyle web site, to market the card and people can apply for it online.

The card is personalised, allowing people to tailor the annual fee, interest rate and cash-back option to suit their needs, selecting their own terms from a range of options.

It will offer reward points, which can be redeemed against products bought through Queercompany.com.

An Accucard spokesman said: "There has been little research into the spending habits and financial behaviour of the gay and lesbian market.

"Yet it is estimated to account for about seven per cent to ten per cent of the UK population."

The fact fewer gay and lesbian couples had children meant they had more disposable income, while 71 per cent of the community fell into ABC social groups.

The company said: "Until now, financial services products have not acknowledged this in their product development.

"The Queercard aims to break this trend and allow a much needed insight and a launch pad for the development of other financial products to better meet the needs of the gay and lesbian community."