less junk mail!!!

apparently, the credit card co’s are becoming a bit less generous with their practices due to the failing economy.
an article in the NYTimes this morning states:

Consumers Feel the Next Crisis: Credit Cards

Published: October 28, 2008
First came the mortgage crisis. Now comes the credit card crisis.

After years of flooding Americans with credit card offers and sky-high credit lines, lenders are sharply curtailing both, just as an eroding economy squeezes consumers.

The pullback is affecting even creditworthy consumers and threatens an already beleaguered banking industry with another wave of heavy losses after an era in which it reaped near record gains from the business of easy credit that it helped create.

but here’s the best part:

And lenders, over all, are slowing the flood of mail offers to a trickle with moves that would translate for the average American household into about 13 fewer pieces of credit card junk mail a year than its peak in 2005. Mail offers to new and existing customers are on pace to drop below 8.4 billion pieces, the lowest level since 2004, according to Mintel Comperemedia, a direct marketing research firm.

all i can say is …. yay!!!!! less junkmail!

read the rest here: http://www.nytimes.com/2008/10/29/business/29credit.html?partner=permalink&exprod=permalink

3 thoughts on “less junk mail!!!

  1. ossobucco says:

    Awwwww, does that mean my poor cats and puppy won’t get credit cards in the mail any more?
    The worst was when Alex was six months old and he got a card. I still don’t know how they got his name.

    1. brni says:

      we were getting maybe 13 credit card offers a week – i’m not sure that a 13 offers/year reduction is much of a flood reduction.

Leave a Reply