Getting hold of a credit card is far more easier now

It is quite possible that you may have received many more credit card offers this year through your mail, when compared to the beginning of the year. If that is the case, then you are not alone, especially if you are one of the big spenders and if you have a household income of over $75,000 per annum.

Around 1.4 billion credit card offers were sent out to American citizens during the first quarter of this year, according to reports from Mintel Comperemedia. The number of card offers sent out the year before was just 826 million, which means that there has been 75% increase when compared to the previous year. This is the closest it has come to when compared to the peak of the 1.8 billion credit card offers that were sent out during the fourth quarter of 2007.

At least 60% of the new offers on credit cards that were sent out during the first quarter of this year had come with a signing bonus, when compared to 30% during 2007. There have been some signing bonuses that have gone up by over 100% when compared to the earlier offers. These amazing deals have made these credit cards far more attractive and hard to resist.

Banks have also become far more accommodating in order to get more customers and have lowered their standards by around 20%, according to the latest survey conducted by the Federal Reserve. Although it is a well-known fact that it is easier for those with good-to-excellent credit scores to get hold of a card, it has become easier even for those who have lower credit scores to obtain a credit card.

Two of the best credit cards to have increased their bonus offers recently are Capital One Venture Rewards Card which offer $250 travel rewards. You can earn 25,000 bonus miles onspends of $1,000 within the first three months of obtaining the card. This is 150% more than what was being offered on the card earlier. For every dollar you spend, you can earn 2 miles and there is no annual fee for the first year.

Chase Sapphire Preferred Card is being issued by JP Morgan Chase and you can earn 50,000 bonus points on spends of $3,000 within the first 3 months. The points have doubled when compared to the earlier offers and are worth around $625 in travel credit. For every dollar spent you can earn 2 points and has no annual fee for the first year.