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Credit card issuers in the United States mailed an estimated 1.34 billion card offers to consumers during the third quarter, ended Sept. 30, down 28% from 1.86 billion offers during the same quarter last year and down 13% from 1.54 billion offers during the second quarter this year. That is according to a report from Chicago-based Mintel Comperemedia, a division of Mintel International Group Ltd. The number of mailed credit card solicitations has declined steadily since the third quarter of 2006, Mintel says. The financial crisis, credit crunch and card-related bank losses influenced declines in direct mailings during the third quarter, Lisa Hronek, senior credit card analyst at Mintel, wrote in a statement. But she also attributes the decline to a longer-term marketing shift. "Credit card companies have been cutting back direct mail dollars for years as they realize that blanketing Americans with credit card offers doesn't translate to increased sign up or card usage," Hronek writes. JPMorgan Chase & Co. mailed the most card solicitations of any U.S.-based issuer during the first through third quarters of 2008, a trend that has continued since at least 2005, according to Mintel. The research firm did not disclose its estimated number of mailings by individual issuers on which it based those rankings. American Express Co. has inched out HSBC Finance Corp. for second place so far this year. AmEx was the fourth-largest mailer in 2007, according to Mintel. Bank of America Corp. retains its third-place ranking based on mailed solicitations.
