As people are cutting back on their spending, a study shows that credit card companies are making it easier for consumers to not spend as the number of credit card mail offers dropped to its lowest point in three years. In 2006 and 2007 an average of 2.07 billion credit card offers were mailed quarterly. But last quarter, only 1.34 billion were mailed, illustrating a 28 percent drop from a year earlier.
The massive scale back is due to the economic crisis, but that offers declined long before the economy was on all our minds.
Credit card companies have been cutting back direct mail dollars for years, as they realize that blanketing Americans with credit card offers doesn't translate to increased sign up or card usage.Credit card companies are now facing a twofold problem that is much worse. Not only are consumers tapped out financially, but issuers are also facing record losses.
As the holiday season approaches, expect to see less credit card offers in your mail. Card issuers will focus on a narrower target audience, using refined marketing and more precise mailings to tap into people's true needs and desires.
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