CHICAGO — The number of credit card offers from national credit card issuing banks have continued to drop, according to a market research firm.
The firm Mintel Comperemedia estimated, based on its research, that credit card offers dropped 8% from the first to second quarter of this year (from 1.67 billion card offers to 1.54 card offers).
"Undoubtedly, this is a symptom of the global credit crunch," said Lisa Hronek, senior analyst at Mintel. "Record losses from the subprime fallout and rising delinquencies have squeezed issuers' credit so tight, they're tapping out. Add that to the fact that consumers' credit is already stretched, and you're left with a tough market for credit card issuers."
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