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Debt consolidation may be an option for those who cannot accept offers for credit cards
01/30/2010
Credit card debt got both lenders and borrowers in trouble during the recent recession, though new statistics show that card issuers may be feeling more confident.
According to Mintel Compremedia, the amount of credit card direct mailings increased 47 percent during the fourth quarter of last year. That marks the first time in three years that direct mailings of credit cards went up.
"Credit card direct mail volume leveled out mid-last year and finally, in the last quarter of 2009, we saw the long-awaited increase in card offers for consumers," Mintel Compremedia senior vice president Andrew Davison said.
Last year, the total number of direct mailings for credit cards did not reach 2 billion, where as the period between 2004 and 2007 saw yearly mailings of 7 billion.
Though companies that offer cards may be feeling confident enough to offer more credit, many consumers may still not be in the position to take on a new card. For consumers who are still struggling with credit card debt, one option may be debt consolidation, which can help reduce the amount they pay in interest.
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