Credit Card Issuers Focus on Wealthy with More Premium Card Offers

Change in direct marketing strategy a good sign for credit card industry
CHICAGO--(Business Wire)--
If you`re an affluent American, chances are you`ve seen more premium credit
card* offers in your mailbox recently. Mintel Comperemedia, a service that
provides direct marketing competitive intelligence, reports credit card issuers
are advertising more premium credit cards in an effort to attract the best
customers.

In Q2 2009, credit card issuers sent 28% more marketing direct mail offers for
premium cards than they did the quarter before. This occurred while issuers
reduced credit card offers as a whole by 8%.

Even more, credit card companies sent a steady number of premium card offers
since early 2008 while slashing direct mail for general cards. In the first half
of 2009, premium cards accounted for one in five (19%) mail campaigns tracked by
Mintel Comperemedia, an increase from just one in 10 (9%) in the first half of
2008.

Andrew Davidson, senior vice president of Mintel Comperemedia, comments: "Credit
card companies are competing to attract people with high credit scores and big
spending habits. Because premium credit cards often have high associated fees
and low risk, issuers see them as an excellent way to restore profitability in
today`s economy."

Credit card issuers are also competing by introducing new premium cards. High
profile cards launched since beginning of the downturn include Chase Sapphire,
the Visa Black Card and the American Express Hilton Honors Surpass Card.

Andrew Davidson sees the focus on premium cards as positive: "Credit card
issuers are beginning to expand with more credit and products for the affluent.
It won`t be long before this trickles down and we start seeing greater credit
card marketing to all consumers."

*Defined as MasterCard World or Visa Signature

About Mintel Comperemedia

Mintel Comperemedia provides competitive intelligence for businesses looking to
advance and improve their direct marketing strategy. Tracking direct marketing
(including mail, email and print advertising) targeted at consumers, small
businesses and insurance agents, Mintel Comperemedia offers a unique perspective
on everything from banking trends to insurance trends to credit card statistics.
For more than 35 years, Mintel has provided insight into key worldwide trends,
leading the industry for consumer, product and media intelligence.

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Mintel International
Joanna Gueller (formerly Peot)
312-628-7946
jgueller@mintel.com

Copyright Business Wire 2009