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New Study Shows Americans Have Too Many Credit Cards

New Study Shows Americans Have Too Many Credit Cards

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Greg Neft, KSL Newsradio A new study says many Americans are carrying too many credit cards.

The survey, from credit reporting agency Experian, says one in seven Americans carry 10 or more cards.

Steve Johnson, branch manager, Raymond James Financial Services: "That tends to be a pretty unwary trend for a lot of people."

Johnson says that's because when that much plastic is in a wallet people have a false sense of security.

Steve Johnson: "People are getting this false sensation that they have wealth, when they really don't have wealth, and they are just accumulating more debt, and it just creates problems down the road."

Johnson says when you get a credit card offer...

Steve Johnson: "Throw them away."

And, of course, shred it.

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