Credit Card Companies Target The Affluent

  • September 10, 2009
Affluent Americans are more likely to have seen more premium credit card offers in the mailbox recently, according to Mintel Comperemedia.

Credit card issuers are advertising more premium credit cards in an effort to attract the best customers, according to the Chicago-based company. In the second quarter, credit card issuers sent 28% more marketing direct mail offers for premium cards than they did the quarter before. This occurred while issuers reduced credit card offers as a whole by 8%.

Companies sent a steady number of premium card offers since early 2008 while slashing direct mail for general cards. In the first half of 2009, premium cards accounted for one in five (19%) mail campaigns tracked by Mintel, an increase from just one in 10 (9%) in the first half of 2008. Credit card issuers are also competing by introducing new premium cards.

High-profile cards launched since beginning of the downturn include Chase Sapphire, the Visa Black Card and the American Express Hilton Honors Surpass Card.--Tanya Irwin



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