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10/02/2010 -
Echoing earlier reports, the volume of direct mail credit card offers is starting to rebound as consumers get more financially stable and resuming their credit card processing activity, global market research firm Synovate reported.In a trend that is likely being seen in Canada and other similar economies, U.S. households saw 398.5 million credit card offers mailed to them in the fourth quarter of 2009, representing a 46 percent increase over the third quarter of 2009.
"As the economy recovers, even at a modest pace, we expect credit to become available to consumers, albeit at a higher price," said Anuj Shahani, director of competitive tracking services for Synovate's financial services group. "With innovation on the forefront, credit card issuers are poised for a comeback."
This report found similar results to one by Mintel Comperemedia released at the end of January, which found that there was a 47 percent increase in direct mail credit card volume from the third quarter of 2009 to the fourth quarter of that year.
As consumers resume their spending and become more willing to use credit, businesses can make the most of this trend by ensuring that their merchant services include credit card processing.
