There was a time when my household would receive a few credit card offers per week. Nowadays, it's more like a few offers per year.
It's been nice in a way. We aren't shopping for a credit card and those offers would just end up in the recycling bin. But I also like receiving the offers because it helps me to keep my finger on what credit cards are pitching. Plus in the past, a too-good-to- pass-up offer has landed in our mailbox from time to time. Maybe that's why we have a fistfull of cards!
Well, it looks like we may start seeing more offers in our mailbox. According to Synovate, a company that tracks credit card direct mail offers:
During Q2, US households received 349.1 million credit card offers. That's a 67 percent drop from the 1060.0 million offers received during the 2nd quarter 2008. And it's still fewer than the 372.4 million offers sent out last quarter. But experts say that this could be the bottom and to expect more offers gracing your mailbox next year.
Some banks are getting a head start. Bank of America's mail volumes were up 77 percent in the 2nd quarter over the first quarter. Citibank sent out 65 percent more offers.
In Minnesota, Wells Fargo sent out 55 percent more offers than it did in the first quarter. That figure includes Wachovia data. US Bank's credit card offers were up 11 percent.
Here's the full news release.