MyCardBlog

Every now and then you will receive junk mails from credit card companies, banks, investment, retirement and mortgage companies. But if you are a careful consumer, you will notice that the junk mails in your mailbox is decreasing all the time in the past few months. Good new or bad news?

In the first quarter of 2008, financial service companies sent out about 4.2 billion direct mails to US residents. Compared to 4.6 billion in the forth quarter of 2007, it’s about 10% fewer in the year 2008 although we are still talking about billions of mails. The drop of junk mails reflects the financial companies are facing a slumping economy. As a matter of fact, our consumers are trying to make ends meet, both spending and savings are down in the past a few months. The steady decline of junk mails is a result of lower response rates from customers and the presure to maximum profit which in return to reduce the cost of operations. For many of us, fewer junk mails is good because we don’t have to take the hassle to shred those junk mails. However, for many of us, we might lose the chance to get fewer bonuses or promotions from financial companies. For example, US Bank is cutting the amount of direct mails about their WorldPerks Visa Card and SkyPass Visa Card (usbank.com/myoffer). JPMorgan Chase & Co also reduced their direct mails about 34% in the first quarter (mostly about Chase business cards). Bank of America also cut their direct mails by 17% in the first quarter.

There are still some fianancial companies increased their direct mails in the past few months. American Express and Discover Card slightly increased their volume. (It’s quite possible that you are receiving more mails from American Express about SimplyCash Card, Gold Delta Skymiles Card, Blue Cash Card and Business Gold Rewards Card.) Washiton Mutual was very crazy at direct marketing advertising—increase direct mails by 56% in the first quater of this year. They were trying to expand their share in the credit card market.

Although our credit card companies, banks, investment, retirement and mortgage companies slightly cut their direct mail so far, they will still be using direct mail marketing strategy. Direct mail is still a very effective way to get your attention.

The question is how to opt out of junk mails?

Ususally every direct mail contains information on how to opt out of direct mails. You can find their contact information at the back of direct mails. To stop receiving junk mails you can write to:

• Equifax Options, Marketing Decision Systems
  • By phone: ( 888) 567-8688
  • By mail:
    Equifax Credit Information Services, Inc.
    P.O. Box 740241
    Atlanta, GA 30374

• Experian Marketing Solutions
  • By phone: (888) 246-2804
  • By mail:
    Online Privacy Team
    Experian
    475 Anton Blvd.
    Costa Mesa, CA 92626

• TransUnion
  • By phone: (888) 567-8688
  • By mail:
    TransUnion Name Removal Option
    P.O. Box 97328
    Jackson, MS 39288