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Mailed offers for credit card debt increase in first quarter
By Marvin Milner on May 12th, 2010
The effects of the recent recession include many consumers carrying more credit card debt, while companies pulled back on offering loans.
However, the latter trend may be changing according to a recent report from market research firm Synovate. The number of credit card offers mailed increased 29 percent during the first quarter of 2010 to 481.3 million. The first quarter of 2009 saw a total of 372.4 million.
"Throughout the remainder of the year we expect to see mail volume continue its slow climb upward," said Anuj Shahani, head of competitive tracking services for the company.
Although card offers may be increasing, consumers are working on reducing their reliance on this form of debt. For example, the Federal Reserve Board reported that revolving consumer credit declined at an annual rate of 4.5 percent in March.
While consumers work on trying to pay off bills or get to a point where they can accept those credit card offers in the mail, they may consider debt consolidation, which can help reduce the number of statements people receive. As a result, bills are easier to keep track of.
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