NEW YORK—As credit card delinquencies remain low, major issuers are seeking to expand their cardholder bases.
Card companies Capital One and American Express said they’ve jump-started marketing efforts in recent weeks to bolster their brands and acquire new customers, Bloomberg reported.
The issuers added they plan to keep up the push through the holiday season.
“This is the biggest disconnect that I certainly have experienced in my three decades of building Capital One between what we see in the economy itself and the actual performance of the consumer,” Capital One Chief Executive Officer Richard Fairbank said.
Still, he cautioned, “this is not a declaration that we see the light at the end of the tunnel.”
The fourth quarter is generally the busiest for card issuers’ marketing and customer-acquisition efforts, with many consumers applying for new credit lines or using up existing card rewards for their holiday shopping, Bloomberg noted.
As CUToday.info reported here, credit card issuers continue to sweeten their card offers.