Media Sales Today

The credit card industry has long marketed to consumers who wanted to buy now and pay later, sometimes much later, for goods and services. Over time, credit card companies hiked interest rates and fees to increase profits. But these practices resulted in restrictive legislation which went into effect in February 2010. As a result, credit card companies can no longer apply the highest interest rates to all outstanding balances and they cannot frequently shift payment due dates. The new legislation and the high rate of defaults on payments by consumers who are mired in debt are leading companies to market to the kind of consumer they long ignored – the one who pays off the card balance every month.