Those Who Pledge To Cut Debt Could Win New Contest
Consumers who vow to cut their debt as part of a new contest from Lending Club and PerkStreet Financial could win up to $1,000 in the coming month.
The companies announced the launch of their Shred Your Credit Card contest, which they say will hopefully inspire consumers to break the cycle of debt created by lenders.
The unconventional contest asks consumers to find the most creative way to destroy their credit cards and then share the video online. Entries can be submitted through the contest website and must be received by January 28. In addition, smaller weekly prizes will be given out to contestants.
"The start of the New Year is a great time to begin, and we want to get people excited about shredding their credit cards in 2011," said Rob Garcia, senior director of product strategy for Lending Club.
The companies say they also hope the contest will raise awareness about lower interest personal loans through their services. However, there may be fewer contestants this year as many consumers have stopped using credit cards altogether in recent months.
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