Have you ever wondered what you are really worth? Have you ever wondered what others feel you are worth? Well, if you use the credit card applications that come to your home through the mail, you might have a somewhat jaded outlook on your self-worth.

For something completely different, my wife and I decided to keep all credit card applications sent to us for one full year. We did this to see how many we received and how much "credit" was available to us. We had only one "ground rule" concerning these applications: they had to be from one of the nation's "major" credit cards. This eliminated all the local gas stations, electronic outlets and department stores.

What were the tallies? Between Jan. 1 and Dec. 31, we received 58 credit card applications. Thirty-six applications came directly to me and 22 went to my wife. Unfortunately, we did not keep track of the number of card solicitations that came across the computer through our on line service, nor did we keep track of the direct phone contacts. These "pre-approved applications" would have pushed up the numbers significantly.

Of the 58 applications, the smallest pre-approved line of credit was $1,000 and the largest was $20,000. The most common pre-approved line of credit, with 11 applications, was $10,000. The grand total "line of credit" available to us was $477,500.

What does this all mean? In a nut shell, it means that you can get yourself into some deep financial problems in a heartbeat. The American Express Corporation talks about the "costliest money trap" available to users of credit cards -- the bill that is never paid off. If you take one card with a balance of $2,000, an interest rate of 18 percent, and you make minimum monthly payments, it will take you more than 11 years to pay off the bill. Now multiply that by two, five or 10 credit cards all maintaining a maximum balance. (Check those wallets and purses and count how many cards you have.)

Also, the credit companies make it easy to keep those payments small by allowing you to pay as little as 2 percent a month.

The interest paid on credit cards also increases the final cost of what you buy. Take that $300 television set you bought. Making minimum payments, your television will have cost you more than $500 when it's finally paid for.

Along with the unpaid balance/interest trap, American Express also talks about another pitfall that credit card users have a tendency to fall into: buying a more costly item. Instead of getting a TV/VCR for $450, you get the combo that costs $950. This increases the balance and the minimum payments.

This brings me to the following questions. What are my minimum payments going to be, and how long will it take me to pay off nearly one half million dollars in consumer credit? Who cares -- you should see my home entertainment system!