More credit card lenders turning to social media

As consumers begin to live more and more of their lives online, many of the nation's top credit card lenders are, as a result, making sure to market their products properly through social networks.

Lenders such as American Express, JPMorgan Chase, Discover and Capital One have all worked to build their presence on social networks in some form over the past several months, according to a report from the Wall Street Journal. Some have done so by offering exclusive deals through sites like Facebook, Twitter and Foursquare, and others have worked to make themselves a presence in popular games like FarmVille.

However, some critics say this is tantamount, in some cases, to skirting federal regulations about marketing credit cards to consumers under the age of 21, the report said. However, because no laws are being broken, it may be more of an issue to do with working to improve the rules.

Consumers who are concerned about their credit health should take the time to order copies of their credit reports. Doing so may help them to identify any errant or unfair entries that can have a detrimental effect on their credit standing.