8.4% of FL cardholders have 9+ credit cards, 3rd most in U.S.

Nearly all financial experts agree that having access to at least one credit card is an important financial tool. The question of how many cards a person should carry, however, is more complicated.
When managed appropriately, having multiple credit cards provides both practical and financial benefits. An extra card can come in handy if one is lost or needs to be canceled, and having multiple lines of credit available can be helpful when unexpected expenses arise. However, tracking balances, card limits, and billing cycles across multiple cards can be challenging. If cardholders do not keep up with what they’ve spent on each card, fees and interest rates can quickly add up and increase their debt burden.
The share of cardholders with a large number of credit cards varies by age, gender, and geography. To determine the states whose residents hold the most credit cards, researchers ranked states by the percentage of cardholders who report having 9 credit cards or more.
These are the key takeaways from the report:
Nationally, the majority of cardholders—approximately 69%—hold between 2 and 8 cards. Conversely, only 26% manage with just one, while 6% possess 9 or more.
Compared with all cardholders, those with at least 9 cards are more likely to spend in excess of their earnings (31.6% vs. 18.2%) and more likely to have major difficulty covering their bills (14.5% vs. 7.5%).
Cardholders with 9 or more cards are approximately 1.5 times more likely to experience anxiety regarding their financial situation and twice as likely to perceive themselves as burdened by excessive debt.
Notably, 10.8% of males and 9.4% of females aged 18 to 24 hold 9+ credit cards, exceeding the national rate of 6%. In contrast, less than 4% of adults aged 55 and up hold 9+ cards.
And here are some key stats for Florida:
8.4% of all cardholders in Florida carry 9 or more credit cards.
4.2% of Florida cardholders possess at least 13 credit cards, while 2.1% have 20 or more.
Across all of Florida, there is an average of 2.6 credit cards per person.
Out of all U.S. states, Florida has the 3rd largest share of cardholders who carry 9 or more credit cards.