Credit card issuers take action by closing inactive accounts, lowering credit limits, and raising rates and fees

January 6, 2009

Mintel Comperemedia tracks new credit card direct mail communications as issuers strive for profitability
Don’t toss that letter from your credit card company quite yet. Mintel Comperemedia, a service that provides direct marketing competitive intelligence, reports that many credit card issuers are communicating big changes in account terms, conditions and fees to their clients through direct mail.
“In recent months, we’ve seen many marketing direct mail pieces inform cardholders of new, notable changes to their accounts,” says Stephen Clifford, VP of Financial Services for Mintel Comperemedia. “With no clear end in sight for the recession and other economic troubles, many companies are altering the terms of their products and services so they can stay profitable, protect their assets and reduce their risks.”

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