Credit Card Mailings Rise To Highest Level Since December 2008.
Posted on | December 7, 2009 |
The economy is truly on the mend, as measured by credit card offer mailings anyway.
According to consumer, media and market researchers at Mintel:
issuers sent 180 million credit card offers to US consumers last month. This is the highest monthly total tracked since December 2008 and it’s the first significant rise in mail volume all year.
The credit card offers sent in October represent a 34% rise in credit card offers sent in September. The slump from December to October is attributed to tight credit markets, increased scrutiny from the government, soaring unemployment and consumer debt.
While the volume of credit card offers is still significantly lower than in the recent past, this up tick could mean that credit card companies are feeling more optimistic about the future, and we could see this trend increase even through the February implementation of the “Credit Cardholders’ Bill of Rights Act of 2009″.
It’s likely a sign of economic recovery since mass market mailings are one of the first things companies increase when the economy is seen as coming out of recession. The amount of direct mail increased steadily from 2001 through 2004 and reached an historic peak 2006, all while the economy emerged from the 2001 recession and cycled through the economic boom of 2005-2007.
In case you were wondering, Chase and American Express sent the most credit card offers in October. This is interesting to me because both ,my wife and I received credit card offers in recent weeks, and none of them were from Chase or American Express!
At any rate, it seems that the mass mailing market for credit card offers is returning to some sense of normal, whether that is a good thing or a bad thing I will leave up to you to figure out.
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December 7th, 2009 @ 3:53 pm
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