Credit card issuers are seeing increases in credit card applications due to stronger foreign markets. In Mexico, the economy is recovering due to outsourced technology firms and manufacturing companies. Credit card solicitors are targeting the new Mexican middle class with low interest credit cards.
According to an article By Marla Dickerson, Los Angeles Times Staff Writer
August 11, 2007, over 22 million credit cards are in circulation in Mexico. Total consumer credit has doubled in the past two years. This increase is a major boost to credit card companies looking to expand in foreign markets.
Many big box merchants are advertising credit card applications in-store. Credit card companies typically partner with big box stores to increase the number of applications for credit cards. The big box stores get a commission from each approved application. According to Patrick Montana of credit card offers website www.sparecard.com, this form of credit card advertising will increase the number of Mexican card holders to nearly 50 million in less than 2 years.
Credit card companies are always looking for new customers as 1 in 3 Americans have a credit card....
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