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Credit card issuers mailed 1.54 billion credit card offers to consumers during the second quarter ended June 30, down 8% from 1.67 billion during the first quarter, according to a report from Chicago-based Mintel Comperemedia, a division of Mintel International Group Ltd. Card mailings have declined for three consecutive quarters, the firm says. The latest total is down 17% from a the latest high of 1.86 billion mailings in the third quarter of 2007. Mintel's report attributes the decline to marketing cuts caused by the global credit crunch and says issuers should adopt new marketing strategies to gain additional customers. Discover Financial Services and Citibank cut credit card mailings by 18% and 31%, respectively, though Mintel would not provide exact numbers. HSBC Finance Corp. reduced credit card and other mail volume by 52%, Mintel says.
