In a recent survey on credit card done in Baltimore, it showed that the average cards per card holder is 3.23 cards and the average balance per card holder is $6,440.
The result ranked Baltimore as number 8th in the surveys of 20 major metropolitan areas.
Surprising, similar survey done in Ney York have an average balance of $5,713 per per card holder with and average of 3.77 cards each. This shows that big city people have better credit control management.
The number of new cards issued dropped about 26% compared to three years ago. There are two schools of thought here.
1. Lesser people are applying for credit card.
2. The banks are giving out lesser credit card loans compared to three years ago.
