AccessMyLibrary provides FREE access to over 30 million articles from top publications available through your library.
Create a link to this page
Copy and paste this link tag into your Web page or blog:
Byline: JED GRAHAM
NextCard Inc. on Wednesday said it's looking for a buyer among more established financial institutions. (See story, A6.) It says it's forced to do so largely because of loan-loss and other regulatory requirements.
The company, though, emphasizes that it's the largest issuer of credit cards on the Internet and that, before these latest requirements, it was on track to be profitable this quarter and to have "significant profit" in 2002 and 2003.
Much of its success in adding customers comes from the fact that it's one of the most active direct marketers on the Net.
One method it's used is the so-called pop-under Internet ads. Such ads helped turn X10.com, which sells a tiny wireless video camera, into one of the most visited sites on the Web.
Internet users can simply ignore banner ads, but pop-unders are more obtrusive. The ads automatically open a Web page beneath the page being viewed -- for people to stumble upon later.
This irks some users, but advertisers are embracing the format. Among them is NextCard, which analysts call one of the most astute online marketing firms.