New Jersey Ranks Sixth Nationwide for Number of Credit Cards, WalletHub Report Finds - WRNJ Radio

New Jersey ranks sixth nationwide for number of credit cards, WalletHub report finds - WRNJ Radio

NEW JERSEY – New Jersey ranks sixth in the nation for the number of credit cards held by residents, according to a new report released this week by personal-finance website WalletHub as the holiday spending season approaches. The WalletHub analysis, States With the Most Credit Cards, highlights trends in credit card ownership and new account openings — data that can signal where consumers may be more vulnerable to overspending or missing payment…

States with the Most Credit Cards

The average American has more than five open credit cards, according to WalletHub’s data. Exactly how many cards are manageable varies from person to person and state to state according to their spending habits, though. Having multiple cards in your wallet can help you boost your credit score if you use them responsibly, but they can also lead to the temptation to overspend. To determine the states where credit card ownership is increasing the m…