If you ask anyone in the marketing industry, they will tell you that social media has become a very integral part of any integrated marketing plan. Many companies use social media to connect with customers and even acquire new ones. College students and young adults seem to make up the majority of social media users. So for any company trying to target college students, social media is the way to go.
Credit card companies have begun to take full advantage of the plethora of college students on social media websites. But why now? The Credit Card Accountability, Responsibility and Disclosure (CARD) act recently passed. Since its passage, credit card companies have been prohibited from pitching on college campuses. Gone are the days where you would see a (insert credit cards company name here) table at your local college hanging out free water bottles for those who signed up. The CARD act also requires that all consumers under 21 must show sufficient income or have a co-signer. This act definitely put a damper on credit card companies marketing to college students, but they didn’t fret for long. They started ramping up their social media strategies.
Take a look at this infographic presented by Card Hub to learn more about how credit cards have gone social.