Get more credit card deals? You’re not alone


Thousands of people across the country have received credit card offers in the mail and online in recent weeks.

Lenders are spending big bucks on marketing again as the economy returns to normal amid the COVID-19 pandemic – and record numbers of people are accepting credit card companies with their new offers.

Recently, nearly 27% of customers said they had applied for a credit card in the past year, according to the Federal Reserve Bank of New York. This is the highest level since 2019.

The results come as credit card debt has gone down. The level of debt is currently 13% lower than at the end of 2019.

“Maybe it started because you got stimulus checks that you use to pay off the debt, or you took advantage of the last way you spent. But now let’s try to keep this going. There is definitely a risk. let those numbers come back up. ”said Ted Rossman, Senior Industry Analyst at CreditCards.com.“ The best thing you can do is pay in full, get the rewards, get the best buyer protections and avoid those higher interest rates. “

Rossman says lenders are currently offering a host of special signup bonuses and credit card incentives. Many companies are also again offering 0% balance transfer cards to those in debt.

But all of these new offers can mean a lot of mail. For those who want to stop receiving these offers, visiting OptOutPrescreen.com is a good place to start.

“It’s not perfect. You can still get offers, especially from companies you have a relationship with,” Rossman said. “Direct mail is definitely still a primary channel for the card companies. Obviously, online is important too, but yes, they’re definitely pushing them aggressively.”

Credit limits are something Rossman is watching that he says could show lenders still have risk issues. The average credit limit for a new card this year is around $ 4,000, down 21% from two years ago.

About Shirley L. Kreger

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