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Credit card offers increase, while debt consolidation may help with existing accounts
By Marvin Milner on Jun 3rd, 2010
Some consumers may have seen more offers for credit card debt accounts, according to a recent report.
Mintel Comperemedia said that offers through direct mail increased from 5.3 billion in the last quarter of 2009 to 6.1 billion during the first three months of this year. That 16 percent increase was lead by offers for insurance, credit card debt and telecommunications packages.
"Offers for new credit cards have increased substantially compared to last year as the economy recovers and fewer customers default on their cards," Andrew Davidson, a senior vice president with the company, said.
A recent report from Moody's Investors Services noted that both defaults and delinquencies on credit card debt accounts saw recent declines. However, some consumers may still be having difficulties paying off their accounts.
Those people may consider debt consolidation as an option, as it can lower the interest rates consumers face on their credit card debt.
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