A credit card solicitation every week — what's up with that?

Not surprising news from credit card firms is that they're tightening credit, raising interest rates and taking cards away from some people. But buried in the story about the credit crunch is this interesting tidbit: "Mail offers to new and existing customers are on pace to drop below 8.4 billion pieces, the lowest level since 2004." A little quick math shows that 8.4 billion credit card solicitations divided by 300 million U.S. residents means that each of us, on average, received 28 mail solicitations this year. And if you further parse the numbers, eliminating about half of the population that is (or at least should be) too young to receive a credit card and people who don't have any income, that means that the rest of us receive about one credit card solicitation per week. No wonder so many people have more credit than they need or can handle.