Friday, April 19, 2024

Survey Results: How Many Credit Cards Do You Have?
by Scott Bilker
Scott Bilker is the author of the best-selling books, Talk Your Way Out of Credit Card Debt, Credit Card and Debt Management, and How to be more Credit Card and Debt Smart. He's also the founder of DebtSmart.com. More about and DebtSmart can be found in the online media kit.

Scott Bilker This survey originally ran in the 11/7/01 DebtSmart E-mail Newsletter.

How many credit cards do you have? Include gas cards, department store cards, and major credit cards.

59% of respondents said 1-3
16% of respondents said 4-6
16% of respondents said 7-10
6% of respondents said 16-25

How many credit cards are too many?

4% of respondents said more than 0
22% of respondents said more than 1
59% of respondents said more than 5
7% of respondents said more than 10
4% of respondents said more than 20

If you add up all your available credit how much can you charge?

44% of respondents said $0-$10,000
33% of respondents said $10,001-$20,000
7% of respondents said $20,001-$50,000
11% of respondents said $50,001-$150,000

What do you Think?
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Reader Comments

"Most of the websites who are allegedly there to help us with being debt-smart are ACTUALLY just trying to sell you something (such as yet ANOTHER credit card!). I have learned so much here at DebtSmart. You guys are the best!" 
--Pam

"I enjoy receiving your newsletter. It is always packed with "useable, real life" information!"
--Michelle

"Great Newsletter! The info is always timely and relevant to my credit situation, and I look forward to each issue. As to number of credit cards, in my count I've learned we have a total of 10, but most have not even been activated. Lately I've been an "intro-hopper", taking advantage of much-lower APRs, to get rid of CC debt (in 9/98 owed 29k, now owe 6.1k, so it won't be much longer). Snowballing, lowering APRs, transferring as credit score improves, all are working, and your advice always helps. Thanks!" 
--Anonymous

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