Here are the cities with the most credit cards, study says

LOS ANGELES - While Americans carry an average of five credit cards, in some cities, residents own even more—and are opening new accounts at a rapid pace.

Top 5 cities with the most credit cards per person

By the numbers:

According to WalletHub’s latest consumer finance data, Winston-Salem, NC tops the list as the city with the highest credit card ownership and fastest growth rate. Residents there opened more new cards than any other city in Q4 2024, with an average of 1.5 new credit cards per person—a 20% increase over the previous year.

1. Winston-Salem, NC – 6.42 cards per person
2. Santa Clarita, CA – 6.69 cards per person
3. Irvine, CA – 6.92 cards per person (highest total but slower growth)
4. Warwick, RI – 6.40 cards per person
5. Pearl City, HI – 6.35 cards per person

What’s driving the credit card surge?

What we know:

Cities with higher incomes and stronger financial literacy tend to have more credit cards per person, as residents are more likely to use them strategically for rewards and perks. 

In Q4 2024, new credit card openings surged in several cities, with Santa Clarita, CA, seeing a 13% increase year-over-year. Meanwhile, Irvine, CA, leads the nation in total credit cards per person at 6.92, though growth there is slowing as fewer new accounts are being opened.

What we don't know:

What remains unclear is whether this rise in credit card ownership will lead to higher consumer debt. 

While some may be managing multiple cards responsibly, others could be taking on more credit than they can handle, potentially increasing financial strain in the coming years.

FILE - In this photo illustration, a credit card is used to pay for gasoline on February 07, 2024 in San Anselmo, California. (Photo Illustration by Justin Sullivan/Getty Images)

How to manage multiple credit cards responsibly

What you can do:

Experts caution that while owning multiple credit cards can boost credit scores and maximize rewards, it requires careful management. 

John Kiernan, WalletHub Editor, advises consumers to prioritize paying off high-interest debt and wait at least six months between new credit card applications to avoid negatively impacting their credit score.

"There isn’t a magic number of credit cards you should have in your wallet. It’s good to own multiple cards if you can manage them well, by paying on time, keeping your credit utilization low and waiting at least six months between applications," Kiernan says. "However, if you’re opening new cards simply to spend beyond your means, you’ll quickly find many cards hard to manage."

Additionally, WalletHub recommends:

• Setting up automatic payments to avoid missed due dates.
• Keeping credit utilization below 30% to maintain a healthy credit score.
• Avoiding opening cards to spend beyond your means, as high interest rates can lead to debt accumulation.