CC mail offers hit record high; response rate drops

[disneysteve]

From www.cardweb.com:

"Response rates to direct mail credit card offers slipped this year, plummeting to a record low of 0.2%. However, the volume of solicitations continues to hit record highs. For the first quarter, Americans received 1.7 billion credit offers in the mail compared to 1.4 billion last year, according to CardWatch (www.cardwatch.com). The percentage of U.S. households receiving an offer has been holding steady at 71%."

Those numbers are mind-boggling. At that rate, the total for the year will be 6.8 BILLION credit offers in the mail. What an incredible waste of paper. That's nearly 25 offers for every man, woman and child in the US!

 

[shades]

I hate getting those offers in the mail! I think it is just one more way to enable identity theft thieves! I did the "optout" thing a while back and the offers did cut down a bit - but, not completely. Somebody in my household receives at least one or two almost every week.

 

[tmt martins]

I should start chargeing these companies for all the shredders I burn through.

If it's not the new account offers it's the Conveinence checks from cards I have and don't use.

I have been E-mailing them about the checks being a Identity theft problem living in the cityt and will cancel if they continue and most have stopped doing that as well.
I try to have no statements come via mail either .Many don't agree but on-line is still the best protection availible at the moment if you avoid Phishing e-mails.

 

[disneysteve]

If it's not the new account offers it's the Conveinence checks from cards I have and don't use.

All you need to do to stop the convenience checks is call the customer service department and tell them not to send them. I've done that on all of our cards and they stopped right away.

 

[Chicago526]

I can believe it. I once got the same offer from the same credit card (Discover) 5 times in one week, 2 to my maiden name and 2 to my married name and one in my father's name, and he has never lived at my address, or my last address. I haven't lived with my parents since 2001, why they think he lives with me I have no idea.

And what's with getting offers from card companies you already have an account with? I get an offer from Citibank at least twice a week and I already have a card with them!

It's the curse of good credit, I guess.

 

[Free4Life11]

I've got you beat. I got the same offer. 5 times. IN ONE DAY! It really is outrageous. I got so fed up that I signed up for that junk mail program and it has virtually stopped all.

I also get all my statements online. I haven't decided if this is a good thing because I do see that I am much more likely to NOT carefully look at my statement (and I have a feeling this is what they expect people to do). OTOH, it saves paper and I hate to have clutter lying around. I'm not sure though if I should just get a binder and switch back to paper copies and keep records.

 

[shades]

IMO, paperless statements is the only way to go. My mail carrier frequently screws up the mail delivery and puts my mail in my neighbors box & vise versa. I would complain, but - I'm afraid the problem would only get worse.

 

[disneysteve]

And what's with getting offers from card companies you already have an account with?

When you sign up to opt-out of offers, it doesn't affect companies that you already have a relationship with. So those companies and their affilitates can continue to solicit you.

 

[kelleigh1]

I've got you all beat. No lie. I received 12 of the exact same offer to the exact same name and address all on the same day. I was furious.

I called the number to opt out of receiving them and I honestly haven't received any since. My husband still receives them. I should probably opt him out too. His credit isn't as good as mine though so he receives all the ones that nobody wants with annual fees and any other fee they can come up with.

 

[tmt martins]

I also get all my statements online. I haven't decided if this is a good thing because I do see that I am much more likely to NOT carefully look at my statement (and I have a feeling this is what they expect people to do). OTOH, it saves paper and I hate to have clutter lying around. I'm not sure though if I should just get a binder and switch back to paper copies and keep records.

I find it easier I keep all my current charges in a folder and as the hit the statement I mark them with a high lighter in the order they are on the statement .So when the final statement is done I can run through them very fast and if something is not in my folder I track what and where it came from .

I check everyday as I only have 1 card open right now and another that gets charges every other month 1 time then paid off.Then once every month I check all my cards on-line just to make sure no surprises are on them.I can get it all done in about 15 min. so it's really no big deal.

Same with checking accounts We have had 1 mine for 10 years and a joint for 5 years and I have only written about 40 checks on the one and 100 on the joint everything else is done on-line . I onlt use the debit card at the ATM for cash .

This just works for me and is easy to keep track of whats going on.

 

[MyGoofy26]

It really is ridiculous. It's amazing how few I get since opting out. Last year was overwhelming with student loan people wanting me to consolidate with them. I was getting Nelnet offers 2-3 times a week for months. Then a few other companies each week. It was a little unnerving to see the soft pulls on my credit report and see how how often these companies were pulling - Nelnet filled almost a full page when printed out.

 

[disneysteve]

Last year was overwhelming with student loan people wanting me to consolidate with them.

I still get consolidation offers even though I finished repaying my loans nearly 2 years ago (and my credit report reflects this accurately).

 

[nowellsl]

I guess I'm the odd person out here. I like getting the offers. I've gotten some fantastic balance transfer offers over the years. If I'm not interested I just shred it. I might think differently if I ever got 12 in one day!

I also still get paper statements in the mail. Every month I check receipts against my statement and file them together. I don't like wasting my ink and paper to print them out myself.

 

[disneysteve]

I like getting the offers. I've gotten some fantastic balance transfer offers over the years. If I'm not interested I just shred it.

I also still get paper statements in the mail. I don't like wasting my ink and paper to print them out myself.

I never carry a balance, so the offers never appeal to me. But even if they did, thanks to the internet, anyone can find a great offer with a few clicks of the mouse. I don't need to be bombarded with offers by mail.

I agree with you about paper statements. Why should I pay for the printing? Let the company cover that cost.

 

[Hedy]

It really is ridiculous. It's amazing how few I get since opting out. Last year was overwhelming with student loan people wanting me to consolidate with them. I was getting Nelnet offers 2-3 times a week for months. Then a few other companies each week. It was a little unnerving to see the soft pulls on my credit report and see how how often these companies were pulling - Nelnet filled almost a full page when printed out.

Oh my lord. I hate the consolidation offers. So annoying.

 

[Chicago526]

When you sign up to opt-out of offers, it doesn't affect companies that you already have a relationship with. So those companies and their affilitates can continue to solicit you.

But why? I already have an account with Citibank, why do they (not an affiliate but Citibank itself) keep sending me offers?

 

[ducklite]

We opted out a couple months ago, and the offers have dwindled to only one or two a week. Before that Iw as getting 4-12 a DAY!

Discover was absolutely the worst.

Anne

 

[nowellsl]

I never carry a balance, so the offers never appeal to me. But even if they did, thanks to the internet, anyone can find a great offer with a few clicks of the mouse. I don't need to be bombarded with offers by mail.

I agree with you about paper statements. Why should I pay for the printing? Let the company cover that cost.

I haven't had to use any of the offers in a while but back when I was trying to consolidate cards and get the lowest rate I could the rate checks came in handy! Looking back I can't believe some of the high interest rates I was paying just because I didn't know any better! I only have one balance now (not for much longer hopefully) and it's about as low as it gets.

The only offers I respond to nowadays are the ones offering me free money to sign up!

 

[deedeetoo]

How do you opt out? I didn't know you could do something to stop getting these offers.

My DH was executor for both his parent's estates plus one of his brothers. Because of this we had their mail forwarded to our house. Now, we not only get junk mail for us, but for all three of them also. Of course, they haven't responded to anything in years, but somehow the offers keep rolling in.

 

[MyGoofy26]

I still get consolidation offers even though I finished repaying my loans nearly 2 years ago (and my credit report reflects this accurately).

So what kind of deals and interest rates to they offer on a $0 loan?