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Kaylee...
(Continued from the main Credit
Card Addiction Stories page)
That is exactly how she found herself in serious debt. She was
a sucker for the discounts the stores provided when she signed up for a
new store credit
card. 10-20% off her first purchase, plus the coupons she'd receive
in the mail, kept her hooked.
Some stores gave additional discounts on sale items just for using
the store card. "It was a game. I loved getting the best deals.
At one point, I had 27 different store credit cards with interest rates
ranging from 20.99%-31%. Try paying off that many monthly bills!
It doesn't happen. I was trying to keep up, but I could only afford
the minimum monthly payment for each card. Before long, I was in
serious debt."
Desperate for help with all the bills, Kaylee decided to cancel more
than half her store credit
cards. However, her spending with the other cards that she kept
didn't slow down. "I can't stop. I was headed in the right
direction by canceling some of the cards, and for a few months, that had
helped. But, I am still shopping. I feel hopeless!"
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