Approximately 14% of the population of the USA possesses more than 10 credit cards, with more than 14% claiming to use at least 50% of their available credit limit, according to a study by credit report agency Experian Consumer Direct.
The National Score Index study examined consumer credit card usage and both state and national level, and found that the states with the highest percentage of consumers with at least 10 credit cards are New Hampshire and New Jersey, where the average is approximately 20%.
The survey also examined how much consumers use the credit cards they carry with them, and found that 14.3% use at least half of their available credit. Alaska and Hawaii topped this segment, with 17% of residents using more than 50% of available credit.
According to the study, US consumers have an average of 4 credit cards, although 51% has at least two credit cards, and 14% has more than 10 credit cards. But those who claimed to use at least 50% of their available credit carried an average of 6.6 credit cards.
"Using credit cards to purchase items now and pay them off over time is a convenient way for consumers to get the items they want or need that they may have never been able to afford if they had to pay in full at the time of purchase," noted Ty Taylor, president for Experian Consumer Direct. "But although credit is convenient, consumers should keep in mind that good credit management means being able to pay on time each month and paying off debt in a reasonable amount of time."