When a college student obtains a credit card, it should be a responsible, mature decision about when one has the proper income to afford it. Credit card companies are turning to social media as a way to appeal to younger demographics, and although some might perceive this as conniving and scheming, it might just be a smart business move.
Credit card lenders are checking up on customer’s “likes” on Facebook and tweets on Twitter to figure out new ways to appeal to younger people. For example, some companies have developed their presence on social media games such as Farmville and Cityville, and others offer deals if customers tweet certain “hashtags” or buzz words.
On the surface, it might seem as though the lenders are trying to deceive social media users and trick them into signing up for credit cards, but the companies are very upfront with what users are signing up for. However, the motive of every business is to get customers to buy its product through effective marketing, and that applies to credit card companies as well.
The ads are straightforward with what the offers are, and although companies might be proposing enticing social media deals, customers should know what they are getting themselves into.
Lenders advertising credit cards on social media sites is no different than breweries trying to sell their beers during football games, or television stations advertising their shows during commercials. Companies sell their products where the consumers are.
The only difference with credit card companies is that students who sign up for them have a lot more to lose.
If students find themselves with credit card debt early on, they could end up with bad credit — a factor that could affect future decisions, such as purchasing a home or car.
People who sign up for credit cards without a steady income, as many college students do, end up not being able to pay the bills and forget their credit card purchases will need to be paid off eventually.
People can wish, but the bills will come back to haunt people and hurt them in the long run. Ultimately, it’s up to consumers to be responsible when making the decision to get credit cards and what purchases to make.
The offers presented on social media sites by credit card lenders might be tempting, but the offers usually aren’t worth the debt they could bring. Users must be cautious and look at the offers with a careful eye, as consumers should do with any product.
Credit cards might not be the best choice for everyone, and people must be smart about deciding if it is the right time to get one because a Farmville ad told them to.
This technique for getting people to sign up for credit cards is a smart marketing move, and it isn’t any more deceiving than any other company’s advertising tricks. Hopefully, the people who sign up for a credit card through social media promotion will understand what they are getting themselves into and not make an irresponsible and rash decision.
Credit cards come with a large responsibility, and if people aren’t responsible enough to own a credit card, they shouldn’t sign up for one.
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