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Consumers, Credit Cards and Direct Mail Promotion
by Jack Loechner, Sunday, August 18, 2002 12 AM
Consumers, Credit Cards and Direct Mail Promotion According to a new survey from Vertis, conducted by Marshall Marketing and Communication as reported in DirectNewsline, a significant
majority of consumers still use direct mail as their primary way of finding out about new credit card programs.
48% percent of consumers who responded to the survey said they learned about
the last credit card they applied for via direct mail 7% heard of the card from a friend or relative 7% at their bank 4% at a special event or in-person promotion 3% online
and 3% from telemarketing Forty-two percent of the Generation Y respondents said they read financial and credit card direct mail, compared with only 21% of seniors. A considerable number of
Generation X and young Baby Boomers (61% and 56% respectively) indicated financing their children's education was a concern, while Generation Y adults were much more likely to plan a vehicle or boat
purchase. When choosing a credit card, 22% were attracted to moneyback incentives, while 19% liked to earn points for merchandise, airline tickets and hotel stays. Other incentives, such as a
sign-up bonus or higher membership level, appealed to less than 10% of those surveyed. Although many Americans hold multiple credit cards, 36% said they didn't have a credit card. Of those with
cards: 51% pay off their balance in full each month 35% make partial payments and claim reducing balances 81% of seniors said they pay off their balances monthly, compared to 42% of
Boomers and 30% of both Generation X and Y recipients For more information: Direct_Newsline@newsletters.primediabusiness.com