Originally published November 23, 2008 at 12:00 AM | Page modified November 23, 2008 at 3:43 AM
Comments 
E-mail article 
Print view
Credit-card companies raising the bar
Fewer consumers are now getting courted for credit cards.
The Washington Post
WASHINGTON — Fewer consumers are now getting courted for credit cards.
According to Mintel Comperemedia, a marketing-research firm based in Chicago, 1.34 billion credit-card direct-mail offers were sent out in the third quarter, down 13 percent from the previous quarter and 28 percent from a year earlier.
A Federal Reserve survey of lenders, released last week and conducted last month, found that 50 percent had raised their minimum required credit scores over the past three months.
That prompts the question: What makes a customer desirable these days?
"This is a moving target because the most creditworthy a year ago was someone with a 700 FICO score. Now it's more like 730," said Curtis Arnold, founder of CardRatings.com.
Stephanie Jacobson, first vice president of public affairs for Chase Card Services, said the company has increased its credit-score cutoffs for direct-mail marketing.
"As leading indicators began to change in early 2007, we adjusted our risk-management policies and procedures to better manage potential losses," she said.
Copyright © 2008 The Seattle Times Company
E-mail article
Print view
Digg
Newsvine
Rainier Pacific Financial calls rescue 'unlikely'
Clearwire gets $1.5B in financing from Sprint, others
UPDATE - 12:16 PM
Home sales in Washington state rise in 3rd quarter
Housing plan reaches 1 in 5 borrowers
Credit-card holders to pay price for bank struggles
Ken Auletta talks about "Googled"
Ken Auletta talks about Google with Brier Dudley at the Seattle Central Library.
Medal of Honor
Pelosi answers questions at Swedish Medical Center
Pelosi speaks at Swedish Medical Center
"Pistol" Pete Ryan
Mourners gather at KeyArena for slain officer's memorial
Procession for slain SPD officer
Election Night: Approve R-71
Election Night: Reject R-71
Election Night: Joe Mallahan
nwjobs
Post a comment
Michelle Goodman blogs about work/life balance.
How to tell your office you're gravely ill
Post a comment
nwautos
Choosing a new sedan? Weigh the impact of your choice on your wallet and on the planet.
Post a comment
Open Houses | Find this weekend's open house listings.  Or search by location: |
- 'Missing' SeaTac man found with new name, in new state
- Police: DNA from officer's slaying matches suspect
- Lt. governor's son shot by co-worker in Kent; gunman then shot self
- McGinn next Seattle mayor; Mallahan concedes as vote gap widens
- DNA, ballistics tie man to cop killing, police say
- Prosecutors consider charges against suspect in police shooting
- Three more fires ignite in Greenwood
- Steve Kelley | Hasselbeck gives Seahawks' sagging season a stay of execution
- Plans call for Triangle to become West Seattle gateway
- Trucker dies as big-rig plummets off SF bridge
- Prosecutors prepare charges against suspect in police shooting 262
- House health bill unacceptable to many in Senate 261
- Pelosi tours Seattle's Swedish after health-care vote 202
- McGinn more than doubles his lead over Mallahan 177
- King County OKs 'don't ask' law on immigration 154
- Resolute Fort Hood soldiers ready for return 128
- Time to bring Ken Griffey Jr. back in 2010 93
- 'Missing' SeaTac man found with new name, in new state 85
- Josh Smith picks UCLA 83
- Cutaia says replay handled properly on Austin TD 71
- For 80-year-old Maple Valley man, hoops aren't just a dream
- Plans call for Triangle to become West Seattle gateway
- Three more fires ignite in Greenwood
- 'Missing' SeaTac man found with new name, in new state
- Silver Lake restaurant destroyed by fire
- Pakistani-American cafe, bar owner on verge of being Granite Falls mayor
- House Speaker Nancy Pelosi tours Seattle's Swedish after health-care vote
- All You Can Eat | Fruit flies: thrill to the kill
- McGinn next Seattle mayor; Mallahan concedes as vote gap widens
- Taste | Ruth Reichl still reigns as queen of America's culinary scene
