How many credit cards do most Texans have? Here’s what a national study found
It’s no surprise that Texas is among the top states with the most credit card holders, given the state’s high credit card debt rates. A new study found that 8.3% of all cardholders in Texas own 9 or more credit cards, ranking fourth among states with the highest share in the U.S.
The study by researchers at Upgraded Points calculated the percentage of cardholders who report having 9 credit cards or more to determine the states whose residents hold the most credit cards. They used data from FINRA Foundation’s 2021 National Financial Capability Study (NFCS) and Experian’s Average FICO Score by State.
Researchers found that 3.3% of Texas cardholders possess at least 13 credit cards, while 0.7% have 20 or more. Across all of Texas, there is an average of 2.6 credit cards per person.
Southern states tend to have higher shares of adults holding 9+ credit cards, according to the study. States in the south with the highest percentages include Louisiana (8.8%), Florida (8.4%), and Texas (8.3%), while Nevada (8.5%) is also among the highest in the country.
People had the fewest cards in Michigan, Idaho, and West Virginia.
10 states with the largest share of credit cardholders
Rank, State Share of cardholders with 9 + cards
1. Louisiana 8.8 %
2. Nevada 8.5 %
3. Florida 8.4 %
4. Texas 8.3 %
5. Georgia 8.2 %
6. Mississippi 7.9 %
7. Connecticut 7.8 %
8. South Carolina 7.6 %
9. New Jersey 7.3 %
10. Missouri 7.0%
