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Holding on to large numbers of credit cards could have a negative impact on people’s credit scores, it has been revealed.

New findings from uSwitch show 16.3 million consumers have an average of 2.3 credit cards each, with many of them held on to as a financial safety net.

"In recent years, we have seen providers close down these accounts or, in some cases, introduce a fee for consumers that don’t use their credit cards," commented personal finance expert at the website Louise Bond.

The site revealed that as a nation, the UK is notoriously bad for keeping an eye on its credit reports, which could also give rise to fraudulent activity.

Cards can be intercepted in the post and therefore used by fraudsters, uSwitch warned, which gives extra incentive for not having more cards than is needed.

The latest statistics from Apacs – the UK Payments Association show that 1.9 billion purchases were made on plastic cards during the first quarter of the year, marking a four per cent increase on figures from the previous year.

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