CHICAGO – Banks sent a record number of credit card solicitations last year even as the percentage of recipients who responded to those offers dropped to a new low, according to Synovate Research, a market research firm whose Mail Monitor program tracks the industry.
In 2005, the firm says over six billion card offers were sent to U.S. consumers, but only 0.3% of these offers drew any responses.
"Over the past few years we keep saying `this is record mail volume' but it continues to grow at a high rate," said Brent Stratford, Vice President at Synovate.
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