Credit card companies in the US are increasingly using direct mail to contact homeowners struggling to pay off their mortgages, with London’s HSBC leading the way globally.

Mintel International Group’s research showed credit card offers through direct mail experienced a 41 per cent increase for the first six months of the year, the Boston Globe reports.

Other figures from the marketing research group display a 13 per cent fall in credit card companies targeting customers with good credit ratings, which indicates a targeting of financially-vulnerable households with no option but to turn to borrowing on plastic.

Julie Lizer, Mintel’s custom research manager told the Globe: “The companies are seeing a market need, and filling it by increasing mail to these consumers.”

HSBC heads the increase in the direct mail trend to reach this particular demographic, with its mail rate to subprime customers has doubled since 2006, according to Mintel.
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