Oct. 3, 2013
In the first quarter of this year, credit card issuers sent out nearly just 21 million direct mailings for cards that carried fees and offered no rewards, down from nearly 300 million in the first quarter of 2007, according to data from Mintel Comperemedia. By the first quarter of this year, specialized lenders Credit One, First Premier Bank, Continental Finance and Merrick Bank were the only companies using direct mail to market credit cards with fees and no rewards, according to Andrew Davidson, senior vice president at Mintel Comperemedia. Larger firms such as Capital One Financial (COF) were sitting on the sidelines.
Source: American Banker