Card Issuers Cut Back on Mail Offers

Credit card issuers reduced their direct mail solicitations in the first quarter by about 14 percent to 2.6 billion mailings, according to Mintel Comperemedia.

JPMorgan Chase cut its mailings the most, reducing its card solicitations by 34 percent compared with its mailings in the same period a year ago, Mintel found. Other major credit card issuers that cut their mailings include HSBC Holdings, by 23.3 percent, Bank of America by 17.5%, and Capital One by 17.3%.

Card issuers typically reduce their mailings as the economy slows and consumers cut their spending.

Savings and loan Washington Mutual bucked the trend, increasing its mailings by 55.8 percent. Mintel found that American Express and Discover also increased their solicitation letter mailings.

The Direct Mail Association reported that card issuers last year spent $13.4 billion on their direct mail efforts and generated nearly $179 billion in revenues.

Chicago-based Mintel tracks marketing programs including direct mail offerings.