Consumer Payment Card News

I-Cards Fade

Credit card marketing on the Internet has collapsed over the past six months as five major players have either totally pulled banner ads or dramatically curtailed online marketing. This week Providian, the most active online marketer of credit cards, has pulled the plug on all online marketing activities for its Getsmart VISA and its new smart VISA. In November, the pioneer of Internet-centric credit and one of the most prolific advertisers of credit cards online, NextCard, began pulling banner ads from Web sites. Both issuers ran into financial problems as the economy sputtered last year. Also in November, CompuCredit, the issuer of the Aspire VISA card, stopped taking applications online and cut marketing. In September Capital One also began reducing its online marketing activities, and Bank of America pulled all of its online credit card ads in mid-August. Providian, Capital One, and NextCard consistently ranked among the 25 most active on-line advertisers to the at-work and at-home Internet audience, according to Nielsen//NetRatings. Boston-based Compete says NextCard and Providian each received about 260,000 online credit card applications monthly.

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