Trends of Declining Credit Card Mail Continue in 2008

The financial research organization Mintel Compremedia reports today that the amount of materials sent by credit card companies to customers and potential customers through the U.S. mail system has declined by 3% in 2008. This continues a decrease in credit card mail volume since the month of October, 2007. Indeed, since 2007, the total amount of material sent by credit card companies throught the U.S. mail has dropped by 19%-from 900 million documents sent through the mail in October 2007, to 729 million documents sent out in January of 2008.

Lisa Hronek, a financial and credit expert working at Mintel Compremedia, has asserted that  the credit card industry is trying to adjust to the tempestuous conditions of today’s volatile credit market. “The credit card industry is pulling back,”Hronek explained.

She continued, “people are worried about financial risk, [so] companies are rethinking how they use direct marketing to generate business.”

In other words, during these trying financial times, when so many people’s credit is ruined, potential customers may be leery of receiving yet another credit card advertisement promising infinite borrowed wealth.

The research of Mintel Compremedia reveals that the highest rates of decrease in mail volume are in the number of offers sent through the mail by credit card companies to those who are already customers-those who are already making payments to the company on one or more credit cards. The amount of advertising materials and new offers mailed by credit card companies to their already-existing customers went down by 30% from December 2007 to January 2008. That is a staggering decrease over the course of just one month.

The amount of advertisements and other materials sent by credit card companies to potential customers went down as well during that period-but only by 7%.

Hronek went on to elucidate that the 2007-08 holiday season was when most credit card companies decided to alter their marketing strategy.

Related Articles

• Union Workers Target of Credit Card Scam
Credit card scams appear every day and many of them are right on the border between illegal and legal. In other words, credit card offers
• Go One Place for Free Credit Reports
There are plenty of advertisements on television warning consumers about the problem of identity theft. There is one with singing pirates or singing medieval men
• Credit Cards Can Encourage Overspending
Keeping your debt in control and limiting it only to what is necessary can be quite challenging. This is especially true when it comes to
• Credit Reports Are Essential To Financial Recovery
People who are looking to recover financially have a lot to consider when it comes to rebuilding their lives. Even for those who aren't bankrupt,
• The Fair Credit Reporting Act
The three credit report agencies, Equifax, Experian, and Trans Union can be said to have quite a lot of power, for they hold the information