Can Social Media Land You the Best Credit Card Deals?
As a consumer, you are more than likely always looking for ways to save money, especially given the economy of the last few years.
With that being said, can you put social media to work for you to land better credit card opportunities before you go shopping for goods and services?
The truth is that more and more credit card companies are investing time and effort into social media, especially when it comes to pr
omoting their card services.
Given the tighter restrictions that were placed on the credit card industry in recent years, providers have been more apt to use social media venues such as Facebook and Twitter to increase their marketing options.
Among some of the examples:
* American Express turned to social media to offer merchant deals to customers via sites like Foursquare, Twitter and Facebook. As of November, AE has more than 580,000 followers on Twitter alone. It is not uncommon to see the company using social media to offer customers cash back when they use their cards;
* Various card providers use Twitter to pass along specials to their customers on the site. Cardholders can take advantage of deals that are automatically loaded onto their card accounts simply by tweeting message with noted “hashtags,” or identifying markers used to categorize tweets;
* J.P. Morgan Chase and Discover Card are among those institutions who have connected with consumers through Facebook, not to mention shown up within social media games such as FarmVille and CityVille;
* Various card providers (including some mentioned above) allow participating cardholders to be eligible for deals to specific retailers centered around brands and activities they noted “liking” on Facebook.
Whether promoting to younger consumers in college, those just out into the workplace or those who are already established in their careers, credit card companies know they must be careful with their actions, especially when it comes to the world of social media. With millions and millions of users on various social venues, what credit card providers offer them needs to be clearly spelled out, therefore making sure companies avoid running afoul of The Consumer Financial Protection Bureau, (CFPB). This especially is true when it involves promoting credit cards to younger adults, given the fact that the 18 to 29 age demographic is well represented on social media.
For the consumer, along with looking for deals the credit card provider may be offering via social media, also review:
* How often their social media pages are updated. Are they sharing, tweeting, pinning etc. relevant items or just using social media for the sake of doing so?
* What interactions do they have with customers online? Do they respond quickly to customer inquiries or are they slow to get back to them?
* Are they very accessible on social media? Do they offer an app for their card, meaning they can then permit customers to share acquisitions on Facebook, thereby allowing them to provide more social ties to their card?
While many consumers get their information about credit cards on the provider websites, it does not hurt to turn to social media venues to see where you may get your best offer.
By doing just that, you may be able to credit yourself for finding a better deal.
About the author: Dave Thomas covers consumer and small business topics for various websites, including how to go about finding the best one stop merchant services.
Image Credit: 1.
Posted in Social Networking. Tags: social media business, social media impact
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