Is the Swag Worth the Debt?

Remember being on your college campus and being bombarded by credit card companies to sign up with the reward of free gear? Well, those days are over. With the CARD act (the credit card accountability, responsibility and disclosure act) aggressive tactics to sign up young customers have been curbed. This act restricts offering tangible gifts to be given at the time of filling out the application. Also, consumers under the age of 21 are required to show a sufficient income or have a co-signer.

Credit card companies, however, are getting creative with their marketing tactics. Still promoting their credit cards to a young crowd, these companies are ramping up their social media strategies. Card companies are getting hip to the marketing capabilities of social media and are making special offers available on social networking websites such as Facebook and Twitter.

Credit cards can without a doubt be very beneficial in your everyday life. But, you should exercise caution when searching for the “perfect card.” When applying for a credit card, take into consideration the interest rates and debt that can follow. Play responsibly and educate yourself before taking on the responsibilities of a credit card.

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Drew Hendricks

Drew Hendricks is a tech, social media and environmental addict. He's written for many major publishers such as National Geographic and Technorati.

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