 TITLE: What Is the Average Number of Credit Cards per US Consumer? CONTENT: Should You Close Unused Credit Cards?\n-------------------------------------\nWhile Americans, on average, have nearly four credit cards each, that's only a national average. When it comes to how many credit card accounts _you_ should have, you need to base that decision on your specific financial situation.\nIf you are considering closing credit cards you don't use, think again. Though it may seem counterintuitive, closing credit accounts can actually hurt your credit score. Here's why:\n*   **Increased credit utilization:** When you close a credit card account, you'll lose the credit limit that goes along with it. That will lower your overall credit limit which could impact your credit utilization rate, one of the most important factors in your credit score.\n*   **Decreased average age of accounts:** The length of your credit history, measuring how long you've been actively using credit, makes up a smaller portion of your credit scores. Closing credit card accounts reduces your average credit history length. While a credit card closed in good standing can stay on your credit report for up to 10 years, credit models may treat these closed accounts differently, which could impact your credit scores.\nInstead of closing old accounts, consider keeping them open and using them occasionally for a small purchase. This will keep your account active and help you maintain a lower utilization rate, which can help your scores. Of course there are a few exceptions to this, including if a card has an expensive annual fee you can't afford. Additionally, if you know you're unable to control your spending when you have access to credit cards, it may be financially prudent to close accounts to stifle any temptation.\nIf you choose to keep the accounts open, it's important to know that having multiple accounts won't negatively impact your credit scores. If anything, the larger combined credit limits will inflate your total credit limit—helping your utilization stay low.\nIf you're not sure how many credit card accounts you have open, consider getting a free copy of your credit reports from Experian to see what's listed in your credit file and how your accounts could be affecting your credit score. END