Facebook Fuckup #13130

Today, in looking up any information I could find about Facebook’s new craptastic selling-out policies, I stumbled upon this gem of an advertising scheme.

Ok, so the newsfeed was an awful idea, but in the newsfeed you might have noticed the little “+1” thing they do whenever you or someone else adds a friend. Simplistic, right? Almost innocently so.

Until you look at how they PARTNERED WITH CHASE BANK TO CREATE THE “+1” CREDIT CARD.

Basically, they had to make the fucking newsfeed to get the fucking “+1” shit out there so they could get the fucking partnership with J.P. Morgan Chase. (By the way, the “+1” now has a fucking service mark)

So many things wrong with this.

Ok, let’s look at the “incentives.” If you get this piece of shit deal, you get a fucking facebook-branded cardholder worth about, oh, fucking 50 cents. I don’t care if that ices your cake, but for God’s sake, what a lame way to start making a brand for yourself, Facebook. What next? Facebook-branded pencils and notebooks? Facebook t-shirts? Come on, you are not a brandable thing.

Then once you use the card you can earn “karma points” by buying shit (that’s funny, I didn’t think that’s how karma worked) and give those points to your friends so they can buy shit.

But first, of course, you have to buy shit. So they built a “+1” store to go along with Facebook. Woopity woo! Not only that, but you can SEE how many karma points your friends have so you can MONITOR indirectly how much debt your friends are going into.

How much debt? Well, after the initial bait and switch, they take away your 0% APR and saddle you with an astronomical 23.24% APR. Not only that but

As described in the Cardmember Agreement, we reserve the right to change the terms of your account (including the APRs) at any time, for any reason, in addition to APR increases that may occur for failure to comply with the terms of your account.

So not only does facebook suck now for reasons we have mentioned, they now contribute to a nationally-recognized problem of college student credit card debt.

They claim that they’re going to give college kids tips on credit management, but I don’t know, why not give them a cut in the APR? Or some realistic terms in the contract agreement?

Or not fucking directly telling to them to buy things they don’t need like the second season of Lost on DVD using their new +1 credit card.

Again, thanks Facebook. You managed to piss me off like eight times today.

6 thoughts on “Facebook Fuckup #13130

  1. Holly

    I’ll be frank. Have you read anything about college debt? Just because you personally can maintain three credit cards is not indicative of how the entire college-attending demographic (85% of whom use facebook) can handle credit debt. I really recommend you read Strapped by Tamara Draut to get an idea of just how bad this actually is.http://www.strappedthebook.com/facts.phpThat said, I’m not going to play into your framing of me as an ignorant idiot for thinking this is exploitative. I’m glad you can keep three credit cards without debt, but most college students (and gasp, this usually means people who don’t go to elite Wesleyan) don’t have the kind of money to maintain the standard of living expected by most colleges today.I know many who have to pay for their books and supplies (myself included) on a credit card and know how hard it is to pay the balance at the end of the month. Not because they’re idiots and can’t handle money (though that is how people paint them to be) but because they don’t have the money.Then, you have people who have never been explained to what an APR even is. These people aren’t idiots. These are college kids who have never handled their own financial affairs before and are being enticed into credit card offers because the credit card companies know they are naive and have no idea what they’re in for. WHY do you think they so aggressively pursue college freshmen!?Sorry if you disagree, but as someone who regularly reads up on college debt and the debt crisis of our current generation, I hold credit card companies and those who partner with them at least partly responsible. It’s no fun to realize there are less advantaged people who rely on credit cards to pay off what other people’s parents pay for them. I realize it’s not fair to expect us to live in a great utopia where everyone had enough money to live, but when college expenses are so utterly ridiculous and someone gets to profit off that ridiculousness at the expense of naivete, I get really pissed.

  2. Holly

    I’ll be frank. Have you read anything about college debt? Just because you personally can maintain three credit cards is not indicative of how the entire college-attending demographic (85% of whom use facebook) can handle credit debt. I really recommend you read Strapped by Tamara Draut to get an idea of just how bad this actually is.

    http://www.strappedthebook.com/facts.php

    That said, I’m not going to play into your framing of me as an ignorant idiot for thinking this is exploitative. I’m glad you can keep three credit cards without debt, but most college students (and gasp, this usually means people who don’t go to elite Wesleyan) don’t have the kind of money to maintain the standard of living expected by most colleges today.

    I know many who have to pay for their books and supplies (myself included) on a credit card and know how hard it is to pay the balance at the end of the month. Not because they’re idiots and can’t handle money (though that is how people paint them to be) but because they don’t have the money.

    Then, you have people who have never been explained to what an APR even is. These people aren’t idiots. These are college kids who have never handled their own financial affairs before and are being enticed into credit card offers because the credit card companies know they are naive and have no idea what they’re in for. WHY do you think they so aggressively pursue college freshmen!?

    Sorry if you disagree, but as someone who regularly reads up on college debt and the debt crisis of our current generation, I hold credit card companies and those who partner with them at least partly responsible.

    It’s no fun to realize there are less advantaged people who rely on credit cards to pay off what other people’s parents pay for them. I realize it’s not fair to expect us to live in a great utopia where everyone had enough money to live, but when college expenses are so utterly ridiculous and someone gets to profit off that ridiculousness at the expense of naivete, I get really pissed.

  3. Anonymous

    You’re attacking facebook for partnering with credit cards as though credit cards are somehow evil. I have three credit cards and no credit card debt. How many college students do you think have credit cards? And how many of those have problems with debt? I have no idea, but I don’t think credit cards themselves are the problem.The “bait and switch” is common practice, and anyone who signs up for an introductory 0% APR has to know that it will change rather soon. And if someone actually expects to retain a 0% APR, then ze is simply an idiot. As for the terms you quoted, I’ve seen those on every credit card terms of agreement I have ever read. Yes, the credit card industry sucks, but just because you have and use a credit card does not mean you will be going into debt, no matter the APR. Facebook’s partners aren’t always the most wholesome, but I don’t understand why this is so much worse than any other.

  4. Anonymous

    You’re attacking facebook for partnering with credit cards as though credit cards are somehow evil. I have three credit cards and no credit card debt. How many college students do you think have credit cards? And how many of those have problems with debt? I have no idea, but I don’t think credit cards themselves are the problem.

    The “bait and switch” is common practice, and anyone who signs up for an introductory 0% APR has to know that it will change rather soon. And if someone actually expects to retain a 0% APR, then ze is simply an idiot. As for the terms you quoted, I’ve seen those on every credit card terms of agreement I have ever read. Yes, the credit card industry sucks, but just because you have and use a credit card does not mean you will be going into debt, no matter the APR. Facebook’s partners aren’t always the most wholesome, but I don’t understand why this is so much worse than any other.

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