Is the Facebook Credit Card Next?
This week Myspace, in conjunction with Citi (whose stock is below $1 may I add) issued their very own credit card. The rewards on the Myspace Citi Forward credit card are nothing to jump up and down about – on regular purchases you receive 1 point for every 1 dollar you spend. These points can be redeemed through Myspace for rather unexciting prizes, such as downloads of music on the site. With such a lousy 1% reward structure on regular purchases, and a high 14.25% APR (at time of issue) it makes one wonder why anyone would even bother with the Myspace credit card?
What’s next, the Facebook credit card? Perhaps the Twitter Credit Card where you can redeem points for premium tweets? Hopefully it doesn’t come to this, but only time will tell…
