The Finch Formerly Known As Gold

20 June 2003

What's on your envelope?

I can't believe I'm doing another post about Capital One already, but this merits some attention.

The Postal Rate Commission has cut a deal with Capital One; the so-called "Negotiated Service Agreement" will save the card issuer 3 to 6 cents per piece mailed, beyond standard presort and other discounts, for the next three years, up to a maximum of $40.6 million.

Somehow I doubt any of that forty million will go to keeping your interest rate down, but such is life.

Posted at 6:02 PM to Common Cents

Capital One had a good bargaining chip for that one. They are obscene mass mailers. They send me at least one promo piece a week and I'm not even one of their card holders. Sadly, I'm sure you're right about the interest rate statement.

Posted by: Marc at 6:31 PM on 20 June 2003

Yup. The savings will go right into the advertising budget.

Posted by: McGehee at 1:56 PM on 21 June 2003