Credit Card Solicitations Are on the Rise
In what can only be described as a sure sign that the economy is improving, credit card solicitations sent through the mail are on the rise.
A Chicago-based company that tracks marketing activity called Mintel Compermedia reported that credit card issuers sent 180 million solicitations pieces through the mail in the month of October.
That is the very first increase seen in the year 2009 from one month to the next.
When compared with the September numbers of 134 million card offers sent by mail you can see that things appear to be heating up.
These are good signs to be sure. Not that we will be receiving more junk mail of course, but the fact that credit card issuers are once again actively seeking customers tells us here at www.bestcreditquote.com that indeed we have turned a corner as an economy.
We have also noticed that there has been an increase in credit card advertisements in print (newspapers and magazines) and on TV in the past couple of months.
For a while there, dating back to the beginning of 2009, it almost seemed as if credit cards no longer existed. Advertisements for them all but disappeared.
And that’s saying something when we talk about credit cards because whether we consciously realize it or not we used to get absolutely bombarded with advertisements for them.
We know that Bank of America just announced that they repaid the entire $45 billion that they received as a federal bailout. I would expect to see some new Bank of America credit card commercials coming our way in the not-too-distant future.
While the credit card industry as a whole is still struggling mightily with record high defaults, they must see sunnier days ahead if they are advertising more aggressively.
When the unemployment rates begin to drop is when the credit card industry will really begin to recover. Unemployment and credit are directly correlated. When times are good and people are working credit flows and when times are bad it more or less trickles.
Related Information:
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- Card Rates Rise While the Prime Rate Falls This article discusses the strange phenomenon of the prime rate going lower as credit card interest rates go higher....
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