The World: New York - Financial crisis hits TV adspend by credit cards

Credit-card companies have sharply reduced their TV ad spending in the US due to the financial crisis, data from Nielsen Monitor-Plus has shown.

Almost all of the major credit-card advertisers significantly reduced TV spending, as the number of TV ads run by credit-card services as a group fell by nearly 24 per cent in September.

During the first three weeks of September, 13,704 ads were shown promoting credit-card companies, compared with 18,057 ads shown at the corresponding time in 2007.

Meanwhile, other financial service companies, including mortgage services and loan companies, also sharply cut back on ad spend during the period.