Why Social Media's In The Cards

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ATLANTA-Credit unions still unsure whether or not to invest in social networking may find some direction in a new study. According to SYNERGISTICS Research, cardholders are beginning to connect with credit card issuers via social networks.

The study, "Exploring the Changing Credit Card Market," seeks to determine the extent to "which cardholders have become a fan, friend, or follower of a particular credit card brand or organization."

The study found one-quarter of cardholders overall say they have become a fan, friend or follower of credit card brand or issuer. Of those, one-fifth have become a friend of a card brand or organization through Facebook, while about one in 20 each have done so via LinkedIn, MySpace, and Twitter.

When asked why they became a fan, friend or follower of a card brand or organization, the largest proportion, one-third, say it was to be aware of any special promotions or deals, SYNERGISTICS reported. One in six say they did so to learn about the experiences of others with the brand or institution. A similar number did so because they identify with the brand or want to share their experiences with others.

The study also looked to the extent to which cardholders have handled a credit card customer service issue via a social network, and found that less than one-tenth of cardholders say they have done so, with Facebook being most widely indicated.

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