It looks like we're all starting to get more credit card offers in the mail again...as stated in the Wall Street Journal on Feb. 9, "now that they know the new rules of the game, [card issuers] are beginning to extend new credit."
Synovate is a market research company. They reported that 398.5 million solicitations were sent out in 4Q 2009...this is a 46% increase from 3Q 2009. The increase is great in many ways and indicates that there's some desire to return to lending from credit card issuers. It's also important to note that this increase is still a long way from the 1.5 Billion solicitation offers that were sent in 4Q 2006. It's also interesting that about 84% of those 398.5 solicitations were sent to A-Paper candidates with 720 and above FICO scores. Mailings to borrowers with under 620 FICO scores made up only 6% of the total so it's also clear that this uptick in solicitations is clearly focusing on "prime" borrowers.
If you're a small business owner looking to start, build, or grow your business we can help so if you could benefit from an unsecured business line of credit or an unsecured business loan come check us out at hawkeyemgmt.com and see who we are and what we do.
Tom Gazaway CCEW, CMPS, XCO
Hawkeye Management
888-783-1503 toll free
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