Oh, man. We are all doomed.
The credit card companies must be getting desperate.
Economy's in the dumper, people aren't spending like they used to (must be that pesky fear-of-being-laid-off thingie) and the card issuers need to keep adding new customers in order to remain profitable (or something resembling profitabe) So now they're reaching out in all directions in an attempt to sign up more folks. One of the ways they do this is by spamming everyone and their grandfather with offers for 'pre-approved' credit in their snailmail. I myself regularly shred piles of pre-approved offers that accumulate in my home (once, I had to turn down a phone offer for a Citibank Platinum Visa that I already have). It makes me wonder how they determine eligibility, seeing as many offers they spray seemingly in all directions. Following 2002's first significant snowfall in NYC, I was riding around in the South Bronx when I spotted a billboard that might cast some light on their criteria:
Oh, man. We are all doomed.
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