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As the depressing financial figures keep piling up just like the snowdrifts in the Midwestern section of the United States, the push to obtain more customers continues to heat up as well. The media and the online marketing professionals that are funded by the credit card sector are pulling out all of the stops in an effort to recover from this ongoing Great Recession.
16 Million Americans Lost Access to Credit Cards
With more than 16 million Americans losing access to their credit cards because of tighter credit regulations and improved regulations on what and who can be given cards, the banks and the lenders are using all of their tools of customer obtainment and market share this holiday shopping season . It is not only the push from the credit lenders that is creating a flurry of sign-ups, but the reactions from the retailers, as well. This really is the season of scale backs and price breaks including some of the credit lenders that normally would not have to tinker with their most prized marketing possessions, credit card offers.
Citibank Gets In Line
One of the leaders in consumer credit lending, Citibank, is offering their premier clientele large dividend cardholders a whopping 5 percent back on spending at department, clothing and electronics stores through the end of the year. That is big news for the normally tight-fisted leaders of the credit card realm and a clear sign that all of the other lenders need to and are following suit.
Sears Joins the Feeding Frenzy
Not only the credit card issuers and lenders are feeling the bite of this ongoing recession as the larger department stores are getting into the consumer credit gathering attempt with some very surprising offers. Neiman Marcus is continuing to advertise extra rewards points on most purchases all the way to the end of shopping season. Adding to that listing is the leader in middle of the road shopping; Sears has been busy as elves themselves running in-store credit card specials for those that sign on the dotted line for a Sears's charge card. With this rush of lender marketing and the need for most US consumers to be granted some relief this shopping season it remains to be seen not how much of a success this big push by the lenders will be but just how harmful this time next year was this marketing assault to the consumers.
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