Credit Card Games !!!

This is a Guerrilla Marketing Tactic being employed by the credit card companies!

Life just got a little harder for people struggling to lower their debt. The credit card industry is about to increase the temptation to rack up more credit card debt. This month, the much-maligned credit card industry will begin field testing a new gimmick designed to entice consumers into renewing their old spend-thrift ways. Just in time for holiday shopping, Citibank is preparing to unveil a new credit card that combines the convenience of a traditional credit card with the fun of an electronic game. The new card will feature two buttons and tiny lights that will allow consumers to choose how they want to pay for their purchases when they reach the register. Press button #1 to charge your purchase to your credit card. Press button #2 to pay for your purchase with reward points.

Convenient? Sure. Money-saving? Maybe not. Citibank is banking on the novelty of their new electronic card to increase consumer use. With the average American family owning 13 credit cards, the credit card industry is starting to add lots of bells and whistles to make sure their card is the one you pull out of your wallet when you get to the register. In the last quarter century, U.S. household debt has risen from $680 billion to more than $14 trillion - and everyone in the credit industry is clamoring for a piece of the pie! 

Some of the other new features poised to make their debut in the near future are:

• Credit cards that can serve double duty as combined credit/debit cards, allowing consumers to select their method of payment at the register.
• Cards containing integrated fraud protection technology imbedded in the plastic that reveal only a partial account number when the correct pin is entered.
• Cards that use an imbedded computer chip instead of the ubiquitous black magnetic strip to identify a consumer's account and allow transactions.

Credit repair professionals (read me) are warning their clients not to get roped in by all the hoopla. Despite the cool features of these new cards, they are still credit cards and carry the same dangers as their Plain Jane cousins for people struggling to repair their credit score. Unfortunately, no matter what alluring game show gimmick credit card issuers come out with, what awaits consumers behind the curtain is not a shiny new car but more debt!

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Matt

Toll Free: 888-NCFIXER (623-4937)
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