Creditnet News Story
Credit card mail offerings increase
Friday, June 4, 2010
By Linda McCarthy
Credit card companies are going back to their old marketing ways and sending more offers in the mail.
The credit card industry is one of the main sources behind the rise in overall direct mail, according to a report by Mintel Comperemedia.
During the first quarter of this year, credit card mail offerings hit 1.2 billion pieces, up from 951 million during last year's first quarter, the report reveals.
During the recession, direct mail from credit card issuers dropped off significantly. With the economy turning around, that trend is being reversed.
"Offers for new credit cards have increased substantially compared to last year as the economy recovers and fewer customers default on their cards," says senior vice president of Mintel Comperemedia Andrew Davidson.
Research shows that credit card issuers have good reason to be optimistic that consumers' debt handling skills have improved.
The number of delinquent card payments has dropped off in recent months. According to Moody's Investors Service Credit Card Indices Report, during the month of April, the amount of late payments received fell to 5.54 percent, the lowest level since November 2008.
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