Mailings for credit card offers increase in first quarter
More consumers may have seen a credit card offer show up in their mail, according to a recent report from Synovate.
The firm’s Mail Monitor showed credit card offers increased 29 percent in the first quarter of this year. In all, 481.3 million mailings were sent to households in the country, up from the 372.4 million in the first quarter of 2009.
“Throughout the remainder of the year we expect to see mail volume continue its slow climb upward,” Anuj Shahani, director of competitive tracking services for the company, said.
This is an improvement over 2009, which saw credit card issuers pull back on the number of offers they mailed to consumers. Part of this was because of the recession, though new legislation also caused companies to be more cautious.
The driving force behind regulatory changes was the Credit Card Accountability, Responsibility and Disclosure Act, which restricted card issuers regarding increasing interest rates on credit cards. It also requires issuers to consider a consumers income and ability to pay before granting them an account.
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