The post office delivered American consumers over a billion credit card offers during the survey period, more than double the amount that arrived in mailboxes the previous year. Yet, only 28% of new card offers required applicants to pay annual fees, compared to 33% in 2009's review. More than half of the 2010 offers feature teaser rates or other promotional pricing, another increase from 2009's figure of 37%.
Many of the offers reviewed by Mintel researchers boasted rebates and rewards of up to 5% on some purchases. Andrew Davidson, senior vice president of Mintel Comperemedia, told reporters that lenders continued to use perks to lure applicants with high credit scores.
About the Author
Joe Taylor Jr. is an internal business consultant for a Fortune 500 company, who writes about finance, culture, and design. He holds a Bachelor of Science in Communications from Ithaca College.