Credit card companies are mailing more solicitations than ever. According to Credit Suisse’s Moshe Orenbuch:”Card issuers mailed 665MM credit card offers in August, driven by a surge at Citi. August volume was up 49% m/m and more than double a year ago. We are raising our 2011 volume forecast by 200MM pieces to 5Bn. The avg annual fee increased to $81 from $73 in July, reflecting more high-fee cards. The operating environment for credit card issuers is one of the most competitive in the history of the business.”
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