Surge in credit card mailings

EAST PROVIDENCE, RI (WPRI) - Big banking changes are happening right now.

Starting with an increase in the number of credit card applications being mailed out to certain people.

"Credit card issuers have come out of their shell.  They're now back on the offense, they are trying to grow their businesses but they're trying to do so primarily through top credit quality consumers," says Greg McBridge of Bankrate.com

If you have a credit score of above 740 now is the time to shop around for single digit interest rates, balance transfer offers, cash back cards and premiere reward programs.

But even if the offers are coming your way, it doesn't necessarily mean you should take them.

Credit experts say as always, compare rates beign offered to what you already have.

And remember, if you just dug out of being deep in debt, you may want to hold off on extending yourself again.

"We are seeing them reaching out and testing the waters with people who maybe have had some problems over the economic downturn or who are new to credit," says Nessa Feddis of the American Bankers Association.

Why the credit push?  Banks now make more money from swipe fees; when people use credit versus debit cards.

If you want to comparision shop for the best credit offers, be patient.

Card promotions and deals are expected to increase as the year goes on and banks will start to compete with one another.