Credit Card Direct Mail Continues Decline
Much to the delight of consumers nationwide, credit card junk mail is continuing its decline that started back in October, according to data released by Mintel Comperemedia today.
The global analysis company noted that credit card-related mailers sent to consumers fell 3% from December to January and 19% since October, down from a whopping 900 million units.
Mailers to current customers fell by 30% from December 2007 to January 2008, but actually rose seven percent to non-customers.
Apparently the credit card issuers are more interested in acquiring new customers, rather than marketing to the ones they’ve got.
Since the holidays, four of the top ten card mailing companies reduced direct mail to both non-customers and current customers, while six increased direct mail to non-customers.
Credit card issuers have been much more cautious in recent months as the mortgage crisis continues to deteriorate and force many homeowners to look for other sources of assets as their home equity slips away.
It’s clear that the credit card industry is adjusting to the ongoing credit crisis and limiting credit as a result, similar to a recent move by mortgage lenders to freeze home equity lines.
Credit card terms are also becoming more stringent, with fewer no fee balance transfer offers and 0% APR offers floating around as a result.
(photo: jemsphotos)
Related Topics:
- Credit Card Mailers Decline on Mortgage Woes
- Credit Card Use Up in October
- How to Stop Receiving Credit Card Offers
- Study Finds Credit Card Issuers Target Heaviest Users
- Credit Card Lates Surge as Mortgage Crisis Rolls On
Posted Under: Credit News