- November 21, 2011
Online Credit Card Acquisition Market Grows 31% From Previous Year
The online credit card acquisition market has seen a strong rebound since a sharp decline in Q1 2011, as the volume of submitted applications in Q3 2011 surpassed the highest application volume since Q4 2008. The percentage of prime applicants applying has decreased by 3 points each quarter since the rebound after Q1 2011, which may indicate that issuers are focusing on subprime prospects. Although outpaced by subprime applications, prime applications are growing as well, both contributing to the overall acquisition market growth of 31% year-over-year.