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How Many Credit Cards does the Average American Have?

how many numbers does a credit card number have

Credit cards are everywhere. They are inescapable. They are a near necessity in building a good, healthy credit score, they are helpful in all kinds of emergencies, and they can offer terrific benefits. It is a good idea for many people to have more than one credit card in order to take advantage of various rewards and interest rates. However, it can also be very tempting to have more cards than one, which can get people into a lot of trouble.

There are certainly benefits to credit cards. Aside from rewards programs, credit cards offer peace of mind, allowing money for emergencies if they should happen to come up. Credit cards are also helpful in that they allow you to carry spendable money without the risks of carrying cash. If cash is stolen, chances are it's gone for good. Credit cards, however are protected.

You might start to wonder how many credit cards does the average American have? While the numbers vary, in general, across the board, Americans have anywhere between 4 and 10 credit cards in their wallet! (Among other issues for those with ten credit cards is finding a wallet with that many slots for cards!) This amounts to around $8,000 to $10,000 dollars in credit card debt alone, and has nothing whatever to do with money owed in car or house payments.

All of this can be incredibly overwhelming, especially when interest continues to accrue and the debt continues to mount.

Even for those who don't have $10,000 in debt, even $4,000 or $5,000 can quickly mount.

The best and most important thing to do is to be extremely careful about your credit card decisions from the outset. Getting a credit card sometimes doesn't seem like a big deal, but the long term ramifications of choosing the wrong card, or of building up a collection of too many cards can be seriously detrimental to your credit and financial health. Before you even apply for a credit card, it is necessary to understand exactly what the terms of the card are and what they mean. Choosing the right credit card, and the right number of helpful credit cards, can make all the difference.

About the Author:

Paul Basco Provides Expert opinions and reviews to help you Compare and Apply for a Credit Card Offers online. At, we offer gas credit cards. low apr credit cards, travel rewards credit cards and much more.

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