If you are like millions of other Americans, then chances are you are being tempted regularly by credit card offers mailed to your home.
Generally, these offers are not address-specific.
They are mailed en masse and are baits used to lure people into spending beyond their means.
Unfortunately, the tactic typically works.
Many people have a credit card but are unable to pay their monthly statements.
In a world that has become increasingly saturated by marketing, it is no surprise that people cannot resist the urge to buy the newest phone or television, but can't foot the bill.
When a person finds themselves overwhelmed by debt, he or she may be inclined to cancel his or her credit card entirely; however, this is not recommended by debt negotiation experts.
Canceling your credit card can do more damage to your credit score than keeping it open and unpaid.
This is because it lowers the amount of credit that is available to you.
Instead of cancelling a card, it may be best to leave it open and simply be very careful about using it.
The ideal scenario would be to pay off your debts and keep the account open, as you will continue to build credit this way.
For persons with overspending problems, try looking at your bank statement before making a purchase.
If you do not have the necessary funds on hand, it may be best to wait until you procure them to make the purchase.
This way, you will never spend money that you do not have, and consequently land yourself in the red again.