Consumer Payment Card News

Platinum Mail

Three out of four credit card solicitations hitting mailboxes last year were offers for Platinum cards. Over the past five years Platinum payment cards in the USA have grown from two million to 126 million. During 2001, the 3.6 billion direct mail offers for Platinum cards generated more than 20 million applications and produced nearly five million new Platinum accounts or about 6.5 million new Platinum cardholders. According to BAIGlobal there were slightly more than 5 billion direct mail solicitations sent out last year, of which 72% were Platinum card offers, compared to 64% in 2000. BAIGlobal says 79% of U.S. households received an average of five credit card offers per month in 2001, compared to 73% of households who received a monthly average of 4.1 offers in 2000. Offers for affinity cards went up from 6% in 2000 to 9% in 2001. Mailings for co-branded cards increased from 12% in 2000 to 15% in 2001. On average, one out of every 166 mail offers produces a credit card application.

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