Home > 2011 > Credit Cards > More Credit Card Offers Coming from Lenders

More Credit Card Offers Coming from Lenders

Advertiser Disclosure Comments 1 Comment

More Credit Card Offers Coming from LendersNew statistics from Mintel Comperemedia revealed that the number of offers for new credit card accounts mailed by the nation’s top lenders ballooned to more than 1.4 billion, an increase of 69 percent over the 826 million sent out in the same quarter last year, according to the Wall Street Journal. Nearly two-thirds of those offers were sent to households with an annual income of more than $75,000, and 59 percent of all offers included some kind of incentive.

[Resource: Dusting Off Your Credit Cards? 5 Things You Absolutely Must Do]

“As people think about risk, credit cards are an area where they feel comfortable building up their portfolios,” Jud Linville of Citigroup’s huge $110 billion credit card business, told the newspaper.

However, credit card offerings still haven’t rebounded from the levels observed before the recession set in, the report said. In the fourth quarter of 2007, lenders sent out 1.8 billion offers for new accounts.

Many of the nation’s top issuers scaled back their offerings significantly during the recession, as increases in defaults and delinquencies caused them to increase their lending standards so that even many reliable borrowers were no longer able to obtain a new account.

[Featured Tool: Get your free Credit Report Card from Credit.com]

Comments on articles and responses to those comments are not provided or commissioned by a bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by a bank advertiser. It is not a bank advertiser's responsibility to ensure all posts and/or questions are answered.

Please note that our comments are moderated, so it may take a little time before you see them on the page. Thanks for your patience.

  • http://blog.unibulmerchantservices.com M. S.

    Clearly now is a good time for opening up a new credit card, provided your credit score is high enough to have made you the recipient of one of the great offers issuers have been mailing out. Unfortunately, that will not be the case for the majority of Americans.

    The average American had a credit score of 667 in May 2011, according to CreditKarma.com, a provider free credit scores to consumers. That is three points below the May 2010 average and certainly not enough to warrant a high-incentive credit card offer. What an average credit score may warrant is an offer for a zero-percent interest rate on balance transfers or purchases, which is a pretty good deal as well.

    The bottom line is that everyone will benefit from the new crop of high-quality credit card offers, only to a different extent, which is always the case. http://blog.unibulmerchantservices.com/your-credit-card-mail-is-not-junk-anymore

Certain credit cards and other financial products mentioned in this and other articles on Credit.com News & Advice may also be offered through Credit.com product pages, and Credit.com will be compensated if our users apply for and ultimately sign up for any of these cards or products. However, this relationship does not result in any preferential editorial treatment.