This piece is part of my 2016–2026 archive migration. Some original formatting, content, and external links may be missing, changed, or not be optimized.
Are you tired of getting offers in the mail and your email?
1.12 billion credit cards were active in 2018, and it is predicted that in 2023 there will be 1.25 billion more credit cards added to the 2018 figure
The credit card industry is a lucrative business. No wonder so many credit card offerings are being shipped out every day. There is so much business to gain by doing so faithfully.
Credit Worthiness Isn’t A Blocker Anymore
Whether you have decent, superb, or not-so-sparkly credit, companies will find you and try to lure you into accepting and or applying for another credit card offer, so they can suck you dry for interest and fees.
Credit Card Companies Are Hungry
Many credit companies have no moral compass, nor do they have any concern with your financial well-being. Even if you have excellent credit and always pay your statement balance at the end of the month, they will find a way to get you at some point – even if it’s one statement balance payment that you forgot to pay before the monthly billing cycle ended; that’s one more fee they can collect on.
Dealing With Junk Offers
If you’re trying to cut back on consumer debt or tired of receiving junk offers in the mail, there are websites or phone numbers you can call (do a quick google search) that provide you with opt-out options.
Repeated Offers Win You Over Eventually
The danger in getting repeated credit offers is that you’re more likely to opt-in and eventually go for one. Credit card companies are now at the point of letting people know they’re pre-approved but also approved. Consequently, people can apply for credit cards with a 100% acceptance rate instead of having to worry if they’ll be approved or not.
Credit card companies are getting smarter, and they’re thirsty for your business. There is too much money to be made in the credit card industry, and their well is not running dry.
“The global credit card payments market revenue was valued at $138.43 billion in 2020 and is projected to reach $263.47 billion by 2028, growing at a CAGR of 8.5% from 2021 to 2028,” according to Allied Market Research.
If you’re not going to opt-out of receiving credit card offers and you’re drowning in debt. Throw away credit card offers at first sight. That way, you won’t be tempted to open them further or apply. The first step in getting out of debt is not acquiring more debt.
This content is for informational purposes only — not professional advice. Consult a qualified professional before making any major decisions.