Credit Card Offers and the bad economy

[Agent Fred]

I don't know about you, but since the economy started tanking I've been noticing MORE than usual lame credit card offers in my mailbox. Talk about not learning their lesson! DOn't they get that unchecked debt is BAD?!?!?!?!?

[Lissy]

Hmm, I've just noticed the opposite. We get less "pre-approved" credit cards showing up in our mailbox... We throw them out right away, so they must have given up on us!

[giay]

Yah, yah! we just need to be more careful for now . . . the recent occurences in the economy affected almost everyone . . . credit cards are not the things for today.

[Ms_Margaret]

Just because you get approved for a loan or credit card doesn't mean your budget can handle the extra debt payment. Use your debt-to-income ratio to determine whether you can handle more debt. If the new debt puts your debt-to-income ratio above 37%, you should reduce your current debt load before taking on any new debt.