Credit card issuers are getting into the Hispanic market in a big way. Until recently, the main players were sub-prime lenders (e.g. MBNA, Capital One, Providian Financial), but with 80% of the non-Hispanic market already using credit cards, prime lenders are realizing that it's time for them to get in on the game. American Express, Chase and Citibank have also jumped into the Latino market. And when it comes to marketing, “credit card customer acquisition is a direct mail business,” says Michael Saray, president of Michael Saray Hispanic Marketing.

Saray spent 3 years advising Capital One on its efforts to market credit cards to Hispanics.

While Capital One spends almost no money on advertising, they are one of the most aggressive direct mail marketers, with direct mail expenditures going well into the tens of millions, says Saray.

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