Cash use has fallen below 20% of purchases. The average American carries at least four credit cards. Reddit users frequently carry more cards to exploit sign-up bonuses, with an observed Redditor average around ten cards. Some individuals carry eight cards with several inactive, signaling disciplined use when balances are avoided. Current credit cards offer attractive benefits such as up to 5% cash back, large statement credits, $0 annual fees, and travel rewards. Unused cards can be stored instead of closed to preserve options and credit history. The ubiquity of multiple cards prompts reconsideration of wallet simplicity and necessity.
It won't come as any surprise that more and more Americans these days are carrying credit, as the use of cash has dropped below 20% of purchases. For this reason, it also won't come as a surprise to learn that the average American has at least four credit cards in their wallet at any given time. There is a real question in America about how many credit cards are too many.
Should you be someone like this Redditor who posted in r/CreditCards, having more than four credit cards might seem excessive. In their case, they have eight credit cards filling out their wallet, which may feel like a lot, but without at least some of the cards having balances, it's also a sign of strong financial discipline. Still, it begs the question of how many cards are too many?
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