Reviewing the Best Merchant Account Providers

As the economy has consumers increasingly aware of how fragile their finances can become, credit card companies are trying new ways to reach out to get people to sign up.

For example, 30 years ago most college students carrying a credit card probably were toting one that their parents had provided. No financial services company was going to grant them a line of credit back then.

Now card companies are setting up shop on campuses and offering things like t-shirts, ball caps, mugs, etc., as an inducement to apply. As a result around 75 percent of college kids these days have at least one card – though that number factors in those who carry one connected to their parents’ account.

Other attempts to lure in customers have yielded mixed results, like cards connected to celebrities. According to CreditCards.com few of those have stood the test of time.

There is a KISS Visa card for fans of the heavy-metal group that offers holders news about the band and discounts on KISS merchandise. And fans of Elvis have been faithful to the King’s Visa, but other celebrity-connected deals have come and gone.

At one time you could have Usher, Hulk Hogan, Reba McIntire, David Bowie, Hilary Duff or Billy Ray Cyrus, among others, on your card, but all of those are kaput.

There seems to be a disconnect when it comes to famous people and credit cards. We will use their perfume or wear their clothes but we really don’t want them in our wallets. It may be like the current American Express commercial where the young business person makes a bad impression by paying for a power lunch with a card that features the image of a cartoon super hero.

Not to mention that these days consumers tend to be more impressed by a great APR, airline/hotel rewards, gasoline discounts and other perks rather than a famous face.

And then there also is the roller-coaster ride of celebrity reputations. If there had been a Lindsey Lohan credit card it might have seemed like a good idea five years ago – today, not so much.

However, CreditCard.com is also reporting that a group that has typically shunned credit cards because of religious reasons, Muslims, is being wooed by some financial services companies.

A card that would follow the dictates of Muslim religious law is being marketing. Obviously it has some significant differences from the mainstream credit cards. Like instead of the variable interest rate, prohibited by their religion, Muslim customers would pay a set monthly fee, and their card would not allow the purchase of alcohol, tobacco and other products forbidden by Islamic law.

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