FIVE BILLION CREDIT CARD APPLICATIONS SENT LAST YEAR
April 9, 2001
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Despite the economic shock of the September terrorist attacks and the anxiety of anthrax via mail, the U.S. credit card industry sent a record five billion solicitations into the nation’s mailboxes in 2001, up 43 percent from the year before, according to data from BAIGlobal Inc., reported The Wall Street Journal. The response rate to the solicitations was 0.6 percent of the total sent, which means there were 33 million applications for new cards in response to last year’s mailings.
BAIGlobal also said there were signs that the increased mail volume and steady response rate was driven by banks’ increased willingness to offer low introductory rates in exchange for transfers of outstanding balances, reported the newswire.
