Despite the lingering aftereffects of the recent economic recession, credit card issuers have resumed their aggressive pursuit of American consumers. The credit card companies sent out almost 30 percent more direct mail offers in the first quarter of 2010 than they did in the same period last year, according to market researcher Synovate.
The single biggest credit card mailer was Capital One, whose doubling of their direct offers in the first quarter of the year is a clear sign that the company believes the American consumer is less worried about credit card debt than in previous quarters, according to Synovate’s report.
Anuj Shahani, Synovate’s director of competitive tracking services, said that “although the percentage of annual fee mailings has increased slightly, it is nowhere close to what consumers or the industry feared. The majority of the offers consumers receive are still no-fee credit card offers,” commenting on the fact that not only have offers increased in quantity, but in quality as well.
Synovate’s study is one of a number of indicators that have many economists saying that the country’s financial situation is taking tentative steps toward recovery.