The economy seems to be making a slow turn around and with that, credit card issuers are getting application happy. The upcoming year will see a large increase in card applications sent by credit card companies eager to find new customers. This trend stems from the fact that fewer Americans are defaulting on their credit card bills.
Defaults hit a high in 2010 of 10.4%, but have dropped to just half of that. According to an Associated Press article that cites a Moodys analyst, the number of charge offs is predicted to drop to 4% by next year.
If you are looking for a new credit card, be sure to look for offers online. Dont simply fill out that paper application you get in the mail. You may be able to find lower APRs, rewards, or promotions. Also, be sure to do your homework and know what type of credit you have and what you need to have to apply for a specific card. This may save you from getting dinged on your credit report.