45 Million Americans Have Had Primary Credit Card A Long Time
According to a new survey, 45 million Americans have maintained a long-term relationship with their primary credit card. Almost half of these individuals say they have never changed their primary card, despite the fact that there may be better credit cards available.
Many individuals will compare credit cards regularly to ensure they are getting the best rewards and the best rates at any given time. This survey reveals that a large portion of American cardholders are loyal to cards they have had for a long time.
Length of credit history is one of the factors that comprises one’s credit score. The longer a line of credit is open, the more it could help generate a higher credit score. Of course, there are many other factors including debt to available credit ratios, payment histories and credit inquiries.
According to a Gallup survey, the average American adult owns 2.6 credit cards, including those who have no cards at all. Among just those who have credit cards, that number jumps to 3.7 cards per person.