Credit card marketing and usage to make a comeback in 2011

Millions of people felt the damage to their consumer credit reports during the height of the recession as joblessness and high credit card bills created a perfect storm of consumer credit defaulting. However, improving economic conditions could drastically change that pattern, according to Tamara Holmes of CreditCards.com. With consumers paying off their debt in significant numbers in 2010, credit card companies are re-energizing their marketing efforts while predictions are calling for increases in consumer credit card use, debt and rewards programs. Meanwhile, credit card solicitations saw huge gains during Q3 2010. According to MediaPost, there were 1.2 billion offers sent out to consumers, up from just 371 million during the same time in 2009. Credit card reward program offers climbed to 41 percent during Q3 2010 - up 13 percent year-over-year. These increases came after consumers paid down nearly $500 billion in credit card debt since the start of the recession in 2008, Northern Trust reported. Household credit card debt slipped by $157 billion in the same stretch. Overall consumer credit card debt remains at $10.1 trillion.