Credit card companies are now focusing on social media to attract young customers. However, under-21 consumers must show a sufficient income or have a co-signer to get a credit card. 37% of charges are waived by credit card companies and stopped restricting offering tangible gifts near campuses. On the other hand, the Card act omits young friendly social media. But the companies are ramping up their social media strategies.
Analyst stated that the credit cards companies have built a virtual table and they don need to be on the campuses. And the Credit act intended to protect the young customers from unfair marketing, instead often led them into excessive, over-priced credit card debit. Around 21% of complaints are related to billing disputes. The consumers are projected to add $50 billion in credit card debt.
