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.