By year end, consumers will have received 4.2 billion credit card offers, a full-year projection from research firm Synovate that shows a 20 percent drop from the 5.2 billion card offers received in 2007.

Households with incomes under $50,000 will receive about 700,000 fewer offers this year compared to 2007. Since these households account for a majority of the credit card offer cutbacks, Synovate argues that issuers are changing their card strategies. “The souring economy and industry consolidation have driven volumes down to levels not seen since 2003,” said Andrew Davidson, vp of Competitive Tracking Services for Synovate’s Financial Services Group. “Card issuers are taking a more cautious approach, with lower income and high-risk households receiving fewer offers or no offers at all.”

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