Hu Interviewed About Credit Cards

WalletHub interviewed Wenyao Hu, Ph.D., assistant professor in the School of Management, for an article about how many credit cards consumers should have.

When asked how many credit cards are too many, Hu replied, “The number of credit cards a person has is less indicative of financial health than the total credit line across those cards. Essentially, it is not about how many cards you possess but how much potential debt you could accumulate across them. The ideal credit line of your credit cards would be no more than 20 to 30 percent of your annual gross income. For instance, if someone has a yearly income of $50,000, a total credit line of $10,000 to $15,000 across all cards might be reasonable.”