Fewer Credit Card Offers in Your Mailbox?
Fewer
Credit Card Offers in Your Mailbox?
According to an Associated
Press article today, some of the major credit card companies
are scaling back on the number of credit card offers mailed
out each year. The number of credit card offers via mail dipped
by over 20 percent in the first quarter of 2006, according to
market research firm Synovate. According to the report, just
3 out of every 1,000 direct mail credit card offers are accepted.
In 1992, that number was 28 out of every 1000.
Credit
card companies that also offer traditional banking relationships,
such as Bank of Amerrica and Chase, are pouring more resources
into getting credit cards into the hands of existing banking
customers via bank branches and ATMs. Issuers without these
resources, such as American Express and Capital One, are more
likely to continue using direct mail heavily, although perhaps
in a more targeted way. According to Synovate, with the decrease
in direct mail offers thus far in 2006, the ratio of accepted
offers has actually risen from recent years.
Published 07/24/06 (Modified 05/07/12)
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