Now that the holidays are over, and the bills are starting to come in, you might be thinking you have a lot of credit cards.

NJ Households Have the Most Credit Cards

If you live in New Jersey, you're not alone.  According to a report at, people in New Jersey love their credit cards.  At six cards per person, we have more credit cards than any other state.

Do you know what else we have?  Debt.  Lots of debt.  The average household credit card debt is said to be almost ten thousand dollars.

According to the website, the average interest rate of these cards is now around over 28%.  It's easy to sink into debt.

What is the Real Cost of Using a Credit Card

Put into perspective, if you owe $3000 on a credit card with an interest rate of 28%, and you made payments of $100 (interest plus 1% of the balance)  it would take you almost 7 years to pay off the debt.  Your interest payments alone would be over $3700.

And that's assuming you aren't making any other purchases and making those payments every month.

Is it Ever a Good Idea to Have Credit Cards

That's not to say that having credit cards doesn't have some benefits.  Credit cards can help improve your credit score, which is a good thing.  However, that requires discipline.  If you purchase with a credit card, it's important to pay that off at the end of the billing cycle.

Also, some credit cards offer special deals.  The key to making these deals work for you is again, to pay off your full balance each month.

States with the Most Credit Cards in 2023 (

Jersey Shore's Most Wanted

Have You Seen These Subjects? Do Not Approach. Call 9-1-1

Gallery Credit: Steve McKay/Townsquare Media

Five Exotic, Sexy & Fun Adult Airbnbs Close to South Jersey

Gallery Credit: Eddie Davis






More From Lite 96.9 WFPG