In an era when charge volumes are down, the banks that own the bulk of the credit card portfolio in our nation are seeking a new kind of customer.

Back in 2011, anybody with above 740 was getting papered over with preapproved offers for generous reward cards. Today though, they've exhausted the possibility of finding customers to take on reward cards. There's just no more customer base out there.

So they're now seeking out those who run balances and those who have lower credit scores. To capture this segment, the banks are putting a big push on 0% offers for 12 and 18 months.