I have this friend who has 12 credit cards. I kid you not. A dirty dozen and he is practically maxed out on each of them. Don't ask what his total tab is. It rivals the national debt.

Naturally, when he asks me what to do, I can only repeat what everyone else says. "Cancel credit cards ASAP." Which as we all know, is much easier said than done. Why? Because with many department and discount stores offering a low 10 percent off to any new applicants, plus an umbrella, and with all of the credit card offers jamming into your mailbox with extremely low percentages, it's rather easy to get hooked.

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