Yesterday I promised to tell you how many credit card solicitations I received in May. After all, part of the problem with credit cards is that the companies marketing them are constantly bombarding the population with offer after offer.
Now for the results.
In May I received 21 credit card solicitations. Yes, that many. No one guessed the right number, though Common Cents did guess 19.
If I receive as many credit card solicitations every other month of the year, that means I'll get 252 solicitations in the mail this year for credit cards. When you add in TV commercials, magazine ads, emails, banner ads, and the like, it's hard telling how many offers I get in a year. Certainly hundreds, maybe thousands.
I have lots of willpower (I only have two cards), but what about others that can't resist credit? Do they even stand a chance against this assault?
So what should we all do about this problem? Get off as many mailing lists as possible. Our postmen and our net worth statements will both thank us.
Why not make those credit cards work for you? I have taken out $30,000+ in 0% BTs this year, and stand to make $900 in interest off of other people's money. If you take the time to read the fine print, you really can learn to benefit from credit card use without going into debt.
http://frugalgirl.blogspot.com/2005/04/more-easy-money.html
Posted by: savvy saver | June 14, 2005 at 10:12 AM
What are BTs?
I too am a fan of the credit card solicitations. They give you great opportunities to pay "no interest" on current credit card debt by transferring balances from one credit card to their card and can also offer "no interest" on purchases for several months. I always open credit card solicitations to see what they are offering.
Posted by: Ian | July 02, 2005 at 11:33 PM