Creditnet News Story
Credit card offers up at the end of last year
Wednesday, February 10, 2010
By Linda McCarthy
Fourth quarter sees credit card offers increase.
A recent report from the Wall Street Journal indicates that credit card offers saw an increase in 2009.
The paper, citing data from research firm Synovate, noted that lenders sent out 398.5 million credit card offers through the mail during the fourth quarter of 2009. That represents a 46 percent increase over the third quarter.
"After scaling back for several quarters, issuers of plastic are ramping up marketing as the economic outlook stabilizes and losses fueled by card loans come off their peaks," the Journal said.
The data from Synovate are supported by numbers released from Mintel Compremedia, a company that tracks direct-mail offers. According to Mintel, credit cards offers saw an increase of 47 percent during the fourth quarter of last year.
As lenders become more comfortable with the credit market and economy as a whole, they may become more willing to make credit card offers. However, lenders are still being stringent when it comes to things like minimum credit score requirements as they continue to try and avoid riskier clients.
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