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If you already have a few credit cards and are considering opening another, you may wonder if there's a number of cards that's too many.
While there's no perfect answer to how many credit cards you should have, the 2019 Experian Consumer Credit Review found that the average American has four. If you can responsibly manage multiple credit cards, you can maximize rewards, annual statement credits and interest-free financing.
While having more than one credit card can be beneficial, you should always consider your credit score, finances and personal goals prior to opening a new card. A credit card application can ding your credit score roughly five points, so it's not in your best interest to apply when you're looking to take out a mortgage or trying to improve your credit.
Select breaks down whether four credit cards is too many and the average number of credit cards Americans have in every state, according to Experian's report.
Key findings
- Americans carry an average of four credit cards
- New Jersey residents have the most credit cards, on average 4.1
- Alaska and Mississippi residents have the fewest credit cards, on average 2.8
Top 10 states with the most credit cards
Residents of many states on the East Coast have multiple credit cards, and New Jersey takes the top spot of any state with an average 4.1 cards.
- New Jersey: 4.1
- Connecticut: 3.8
- New York: 3.8
- Delaware: 3.7
- Florida: 3.7
- Rhode Island: 3.7
- Maryland: 3.6
- Texas: 3.6
- California: 3.6
- Illinois: 3.6
Top 10 states with the fewest credit cards
Both Alaska and Mississippi residents have the lowest average number of credit cards, 2.8. If you have fewer credit cards than the average four, that's OK. It's up to each individual to decide the right number of credit cards for their lives.
- Alaska: 2.8
- Mississippi: 2.8
- Oklahoma: 2.9
- Wyoming: 2.9
- Montana: 2.9
- District of Columbia: 3
- Alabama: 3
- Vermont: 3
- Arkansas: 3
- South Dakota: 3
How many credit cards is too many?
While Americans carry an average of four credit cards, that doesn't mean four cards is ideal. It all depends on your situation.
Credit card optimizers might be curious if there's a number of credit cards that's too many. Thankfully, there really isn't a one-size-fits-all answer. It all depends on how responsible you are at managing multiple cards.
If you always pay on time and in full, then you can open as many credit cards as you want. On the other hand, if you often carry a balance or miss your payment deadline, it's in your best interest to limit the number of cards you open.
Choose the right mix of credit cards
If you decide to open another credit card, it's a good idea to consider how each card can help you save money on your spending. You can take advantage of increased benefits by selecting a mix of cards, such as travel rewards, bonus cash back on select purchases, introductory 0% APR cards, and more.
Here are some of our top choices in popular categories.
Travel credit cards
The American Express Gold Card is great for earning valuable Membership Rewards® points at restaurants worldwide and U.S. supermarkets.
- You can earn $400+ in dining and rideshare credits every year (Enrollment required for select benefits mentioned)
- Exceptionally rewarding for eligible restaurant and U.S. supermarket purchases
- No foreign transaction fees
- Larger annual fee
- Credits are more complicated, you earn them monthly or semi-annually
Highlights
Highlights shown here are provided by the issuer and have not been reviewed by CNBC Select's editorial staff.
- You may be eligible for as high as 100,000 Membership Rewards® Points after you spend $8,000 in eligible purchases on your new Card in your first 6 months of Card Membership. Welcome offers vary and you may not be eligible for an offer. Apply to know if you're approved and find out your exact welcome offer amount – all with no credit score impact. If you're approved and choose to accept the Card, your score may be impacted.
- Earn 4X Membership Rewards® points per dollar spent on purchases at restaurants worldwide, on up to $50,000 in purchases per calendar year, then 1X points for the rest of the year.
- Earn 4X Membership Rewards® points per dollar spent at US supermarkets, on up to $25,000 in purchases per calendar year, then 1X points for the rest of the year.
- New! Earn 5X Membership Rewards® points on prepaid hotel stays booked through AmexTravel.com or the Amex Travel App.
- Earn 3X Membership Rewards® points on flights booked through AmexTravel.com, the Amex Travel App, or purchased directly from airlines.
- Earn 2X Membership Rewards® points on prepaid car rentals booked through AmexTravel.com or the Amex Travel App and cruises booked and paid through AmexTravel.com.
- Earn 1X Membership Rewards® point per dollar spent on all other eligible purchases.
- Pay It® lets you tap in the American Express® App to quickly pay for small purchase amounts throughout the month and still earn rewards the way you usually do. Plan It® gives you the option to split up big purchases into equal monthly payments with a fixed fee. You'll know upfront exactly how much you'll pay.
- Updated! $120 Dining Credit: Earn up to a total of $10 in statement credits monthly when you pay with the Gold Card at Grubhub (including Seamless), Buffalo Wild Wings, Five Guys, The Cheesecake Factory, and Wonder. This can be an annual savings of up to $120. Enrollment required.
- $100 Resy Credit: Get up to $100 in statement credits each calendar year at over 10,000 qualifying U.S. Resy restaurants after you pay for eligible purchases with the American Express® Gold Card. That's up to $50 in statement credits semi-annually. Enrollment required.
- $84 Dunkin' Credit: Earn up to $7 in monthly statement credits after you pay with the American Express® Gold Card at U.S. Dunkin' locations. Enrollment required.
- $120 Uber Cash on Gold: Enjoy up to $120 in Uber Cash annually with your Gold Card. Just add your Card to your Uber account and you'll get $10 in Uber Cash each month to use on orders and rides in the U.S. when you select an Amex Card for your transaction.
- New! As an American Express® Gold Card Member, you can enjoy complimentary Hertz Five Star® Status. Enjoy benefits like skipping the counter at select locations, adding an additional driver at no additional cost*, and vehicle upgrades**. Benefit enrollment and Hertz Gold+ registration are required. *Additional drivers must meet standard rental qualifications and must be a spouse or domestic partner to qualify as complimentary. Other additional drivers subject to fees. **Benefits are subject to availability and vary by location. Additional Hertz program Terms and Conditions including age restrictions apply.
- Take advantage of a $100 credit towards eligible charges* at over 1,300 upscale hotels worldwide when you book The Hotel Collection through AmexTravel.com or the Amex Travel App **. *Eligible charges vary by property. **The Hotel Collection requires a two-night minimum stay.
- Book your travel through the Amex Travel App with added peace of mind – backed by American Express® service and support. Only for American Express® Card Members.
- Whenever you need us, we're here. Our Member Services team will ensure you are taken care of. From lost Card replacement to statement questions, we are available to help 24/7.
- No Foreign Transaction Fees.
- Annual Fee is $325.
- Terms Apply.
- See Rates & Fees
Foreign transaction fee
None
The Chase Sapphire Preferred® Card packs a punch for a $95 annual fee card, offering annual travel credits, comprehensive travel protections and more.
- You can transfer rewards to all of Chase's travel partners including World of Hyatt, Southwest Rapid Rewards and many more
- Long list of travel and shopping protections
- $50 annual Chase Travel hotel credit
- Has an annual fee
- Requires a high credit score
Highlights
Highlights shown here are provided by the issuer and have not been reviewed by CNBC Select's editorial staff.
- Earn 75,000 bonus points after you spend $5,000 on purchases in the first 3 months from account opening.
- Enjoy benefits such as 5x on travel purchased through Chase TravelSM, 3x on dining, select streaming services and online groceries, 2x on all other travel purchases, 1x on all other purchases
- Earn up to $50 in statement credits each account anniversary year for hotel stays through Chase TravelSM
- 10% anniversary points boost - each account anniversary you'll earn bonus points equal to 10% of your total purchases made the previous year.
- Count on Trip Cancellation/Interruption Insurance, Auto Rental Collision Damage Waiver, Lost Luggage Insurance and more.
- Complimentary DashPass which unlocks $0 delivery fees & lower service fees for a min. of one year when you activate by 12/31/27. Plus, a $10 promo each month on non-restaurant orders.
- Member FDIC
Balance transfer fee
Either $5 or 5% of the amount of each transfer, whichever is greater
Check out Select's roundup of the best travel credit cards.
Cash-back credit cards
The Citi Double Cash® Card is one of the best no-annual-fee cash-back cards thanks to its straightforward rewards structure.
- Balance transfers get a long intro APR
- Generous flat-rate cash-back rewards structure
- No annual fee
- Travelers face a foreign transaction fee
- Intro APR only applies to balance tranfer
Highlights
Highlights shown here are provided by the issuer and have not been reviewed by CNBC Select's editorial staff.
- Earn $200 cash back after you spend $1,500 on purchases in the first 6 months of account opening. This bonus offer will be fulfilled as 20,000 ThankYou® Points, which can be redeemed for $200 cash back.
- Earn 2% on every purchase with unlimited 1% cash back when you buy, plus an additional 1% as you pay for those purchases. To earn cash back, pay at least the minimum due on time. Plus, earn 5% total cash back on hotel, car rentals and attractions booked with Citi Travel.
- Balance Transfer Only Offer: 0% intro APR on Balance Transfers for 18 months. After that, the variable APR will be 17.49% - 27.49%, based on your creditworthiness.
- Balance Transfers do not earn cash back. Intro APR does not apply to purchases.
- If you transfer a balance, interest will be charged on your purchases unless you pay your entire balance (including balance transfers) by the due date each month.
- There is an intro balance transfer fee of 3% of each transfer (minimum $5) completed within the first 4 months of account opening. After that, your fee will be 5% of each transfer (minimum $5).
Balance transfer fee
There is an intro balance transfer fee of 3% of each transfer (minimum $5) completed within the first 4 months of account opening. A balance transfer fee of 5% of each transfer ($5 minimum) applies if completed after 4 months of account opening.
Foreign transaction fee
3%
Information about Discover cards has been collected independently by CNBC Select and has not been reviewed or provided by the issuer prior to publication.
Check out Select's roundup of the best cash-back credit cards.
Intro 0% APR credit cards
The Citi Simplicity® Card may not earn rewards, but it can still save you money due to its amazing intro-APR offers.
- One of the longest intro APR offers for balance transfers
- No annual fee
- No rewards
- No welcome bonus
Amex EveryDay® Credit Card
Rewards
2X Membership Rewards® points at U.S. supermarkets on up to $6,000 per year in purchases (then 1X), 1X Membership Rewards® points per dollar spent on all other purchases
Welcome bonus
Earn 10,000 Membership Rewards® points after you make $2,000 in purchases in your first 6 months of card membership
Annual fee
$0
Intro APR
0% for the first 15 months on purchases and balance transfers from the date of account opening
Regular APR
18.24% to 29.24% variable
Balance transfer fee
Either $5 or 3% of the amount of each transfer, whichever is greater.
Foreign transaction fee
2.7%
Credit needed
Excellent/Good
See rates and fees, terms apply.
Pros
- No annual fee
- Competitive intro period on purchases
- 20% extra point bonus when you make 20 or more purchases in a billing period
Cons
- 2.7% foreign transaction fee
Check out Select's roundup of the best 0% APR credit cards.
Average number of credit card by state
| State | Avg. Credit Cards |
|---|---|
| Alabama | 3 |
| Alaska | 2.8 |
| Arizona | 3.4 |
| Arkansas | 3 |
| California | 3.6 |
| Colorado | 3.4 |
| Connecticut | 3.8 |
| Delaware | 3.7 |
| District of Columbia | 3 |
| Florida | 3.7 |
| Georgia | 3.4 |
| Hawaii | 3.3 |
| Idaho | 3.2 |
| Illinois | 3.6 |
| Indiana | 3.2 |
| Iowa | 3.1 |
| Kansas | 3.3 |
| Kentucky | 3.2 |
| Louisiana | 3.1 |
| Maine | 3.1 |
| Maryland | 3.6 |
| Massachusetts | 3.6 |
| Michigan | 3.4 |
| Minnesota | 3.3 |
| Mississippi | 2.8 |
| Missouri | 3.3 |
| Montana | 2.9 |
| Nebraska | 3.4 |
| Nevada | 3.6 |
| New Hampshire | 3.6 |
| New Jersey | 4.1 |
| New Mexico | 3.1 |
| New York | 3.8 |
| North Carolina | 3.3 |
| North Dakota | 3.2 |
| Ohio | 3.5 |
| Oklahoma | 2.9 |
| Oregon | 3.1 |
| Pennsylvania | 3.6 |
| Rhode Island | 3.7 |
| South Carolina | 3.2 |
| South Dakota | 3 |
| Tennessee | 3.1 |
| Texas | 3.6 |
| Utah | 3.2 |
| Vermont | 3 |
| Virginia | 3.5 |
| Washington | 3.2 |
| West Virginia | 3.1 |
| Wisconsin | 3.3 |
| Wyoming | 2.9 |
| Source: Experian |
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For rates and fees of the American Express® Gold Card, click here.
For rates and fees of the Amex EveryDay® Credit Card, click here.
For rates and fees of the Discover it® Cash Back, click here.
