Tuesday, October 17th, 2017

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Credit card offers increase as consumers improve payment habits

More young people may have seen offers for credit cards as Americans have improved how they handle their personal finances.The personal finances of both older and younger people in the country may be improving, and those who issue credit cards and insurance policies are taking note.

According to recent data from Mintel Comperemedia, the number of credit card offers mailed during the first quarter of 2010 rose 36 percent to 1.2 million offers when compared to the same time in 2009.

Company senior vice president Andrew Davidson said that as consumers get out of debt and improve their payment habits, companies are more likely to feel confident about making them offers for credit cards and other financial products.

Since the start of the recession, Americans have made attempts to get out of debt, according to a report from the Federal Reserve Board. Revolving consumer credit, which is made up mostly of credit card accounts, declined 9.6 percent in 2009, the central bank reported.

Reducing credit card debt can not only lead to offers for new products, it can also make obtaining them easier. Reducing the percentage of the amount of available credit used can help young consumers improve their credit score, which factors into getting loans.ADNFCR-3389-ID-19817227-ADNFCR

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