Increase in credit card offers and incentives
A lot of credit card customers are finding 4 or 5 credit card offers everyday in their mailbox. Some customers believe this could be because the economy is recovering. By the end of the year, as many as 2.25 billion customers would have been offered solicitations for credit cards. This number represents an increase from the previous year`s number by 62%. Marketing in many card companies has returned to the levels where it was before the crisis started. There was a lot of talk about high interest rates and very few incentives amidst the economic gloom in the early part of the year.
However, as the year has passed more and more credit card offers had started appearing in the mailboxes of credit card customers. Along with the new offers, credit card customers are also being offered a lot of new incentives. The most popular of these reward programs include cash back offers. It is expected that the cash back credit cards would be issued at the same levels as before the credit crisis. A good example is the Chase Freedom Visa, which offers cash back of 100 dollars if the cardholder spends 799 dollars on the purchases within the first 3 months of the opening of the credit card account. A 5% cash back is being offered by Discount for up to 300 dollars on purchases in specific categories. There are other reward cards too like the travel cards which are mostly offered to the customers with high credit scores.
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