Money Magazine recently asked its readers how many credit cards they carry. The responses:
- 3% carried none at all.
- 44% carried one or two.
- 37% carried three to five.
- 16% carried more than five.
Here's where I stand on this question:
- I carry four credit cards with me in my money clip/card holder. I also have a debit card from my credit union in the holder.
- I have another five cards that I carry in my briefcase and use infrequently -- many of them on business (hotel card, airline card, etc.)
Money's piece also had a couple interesting credit card facts as follows:
- 28% of cardholders say they frequently carry a balance; 37% say they never do.
- 80% of credit purchases are made using a rewards card.
As you know, I never carry a balance and 100% of my purchases are made using a rewards card. :)
How many cards do you carry? Do you use a rewards card? Which one(s)? And do you ever carry a balance?