New federal regulations haven't dampened competition in the credit card industry, according to analysts at Mintel Comperemedia. In fact, a Mintel review of credit card direct mail in the second fiscal quarter of 2010 reveals an increase in the number of new account offers compared to the same period in 2009.

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.

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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.