Credit companies have stepped up the pace. I thought it was just my imagination until I read a recent article on the subject. I receive an offer a day for new credit cards or increases in credit lines.

In the past year, credit companies have mailed more than 6 billion solicitations. This is a record event. Approximately .3 percent of these offers were actually accepted. This represents 18 million offers.

The offers are being sweetened with freebies, rebates and rewards. There are now cards that rebate five percent of the money you spend on gasoline purchases. A card issued by American Dream Card is matching your spending with lottery tickets. Spend $100 and get the same amount in lottery tickets.

Of course, this provides an enticement to use your card. When the month is over, you must pay the balance or begin incurring interest. Since many companies charge eighteen percent interest, you have lost more than your rebate and lottery tickets while incurring an ongoing debt.

According to Mail Monitor, a unit of Synovate, a consumer research company, last year fifty eight percent offered rewards worth several pennies on the dollar. Many companies are now aggressively promoting cards with the images consumers love such as sports teams, colleges and more. Studies have shown that consumers care more about rewards than interest rates.

In the event you are in the group of consumers who pay their bill in full at the end of each month, then take advantage of the rewards and rebates. If you are not in this group, then take care. Your bill is due in full at the end of your billing cycle, or you will find yourself making payments for some time to pay off the bill. Use due diligence in investigating the offer before you accept it and start spending your future earnings.