Mintel: Credit Card Offers Hit Year-to-Date Low in September
After peaking in June with nearly 375 million new direct mail offers, credit card mail volume has declined each month since, settling at a year-to-date low of 297 million acquisition pieces in September.
Though 50 percent of consumers report that they ignore all new credit card mailings, the Comperemedia Response Rate Tracker shows that overall credit card response rates remain steady at 0.8 percent to 1 percent.
"While the overall volume of direct mail offers may have declined, consumer response rates and attitudes have stayed the same since the first of the year," said Rob Cartwright, manager of Comperemedia.
Issuers have provided consumers a mixed bag of incentives and offers. Comperemedia said the percentage of offers that promoted interest rates of 8 percent or higher increased from 58 percent in July to more than 75 percent in September.