Friday, July 13, 2012

Credit cards can be a wonderful convenience or an albatross around your neck. Now, in the face of a government edict to stop pressuring unqualified people into opening credit card accounts, those purveyors of plastic are trying to make the credit-card game easier and more cost-effective for social media users, offering specials, perks and rewards for those who use Facebook and Twitter.

The credit card industry is slowly recovering from the big crash of 2008; delinquencies and charge-offs have significantly decreased. At the same time, the U.S. has smacked down the aggressive tactics used by credit card issuers, particularly when it comes to younger customers.

This infographic reveals the latest social media tactics of credit card companies and what to look out for if you become one of their customers.

The news is not all good such as the fact that interest rates for student credit have risen 3.1% just in the past three months. On the positive side, the infographic offers advice for improving your credit rating and getting better deals from the credit card companies.

Is this data reliable? The infographic was created by, a credit card-comparison site that’s independent of any of the major players (its CEO learned the tricks of the trade as a top executive at Capital One).

In addition to showing you where to get the best credit card deals, the site conducts studies about how credit cards are used.

The company has finished its second-quarter 2012 study. In this infographic, it’s concentrating on social media, as well as offering lots of hints we found quite useful.