US credit cardholders spending is at a 20-year high, according to Mail Monitor, the syndicated credit card tracking service from market researchers Synovate.
On average, US households with credit cards are spending $1,559 across all the cards in 2010, a 6% increase compared to $1,471 in 2009.
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Anuj Shanhani, director of competitive tracking services for Synovates Financial Services Group, said that, despite legislative changes and the difficult economic climate, credit card issuers are getting back into the market.
"We are being repeatedly reminded that anybody betting against the US consumer ends up on the losing side," said Shanhani. "Consumer spending accounts for approximately 70% of US GDP, and a spend of over $1,600 suggests the Dr Dooms of the world may be underestimating this economys recovery."
Synovate also predicts Americans will receive 2.25bn credit card offers by the end of the year, up 62% from 2009.
During the second quarter, US households received 640.3m credit card offers, up 83% year-on-year.
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By GlobalDataChase was the lead marketeer, quadrupling its mailings versus the same period in the prior year. Citibank, the second-largest mailer in the second quarter, almost tripled its mail-outs compared with the first quarter of the year.
Mailings from Discover were up 70% in the second quarter from the prior quarter.
