Love the One You're With

February 1, 2008

Credit card companies want people to spend more, do more with cards they already haveCredit card issuers are changing their tune. Instead of using direct mail just to lure in new customers—as has been done in the past—they have begun using it more to connect with current cardholders.Mintel Comperemedia reports that the number of credit card direct mailings sent to non-customers dropped 11% from 2006 to 2007. However, “loyalty” credit card offers, sent only to current customers, increased 16% during that time. Loyalty credit card offers encourage cardholders to use their cards by advertising services and benefits such as balance transfers, convenience checks and bonus rewards.

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