More lenders now using social media

In recent months, several of the nation's largest credit card lenders have launched significant forays into the world of marketing through social networks.

American Express now has its "Link, Like, Love" promotion that allows users to share information about items they plan to purchase, and Citi recently created its own Facebook application that allows friends to pool their credit card rewards points, according to a report from Main Street. However, these institutions say that the promotions aren't designed to draw in new customers, but rather to foster loyalty within those that already exist.

"Our social media strategies are designed to build a sense of community and to facilitate interactions with the Chase card brands customers are passionate about," Laura Rossi, a spokeswoman for Chase, told the news site.

To ensure that they get the best available credit card deals, consumers may want to order copies of their credit reports to make sure there are no problematic markings unfairly lowering their scores. They can also work with a credit repair company to have such items stricken from their records.