NEW YORK (MainStreet) – March Madness and your credit card debt have more in common than fans and cardholders may believe.

CapitalOne serves as one of the NCAA's “Corporate Champions” and contributed more than $41 million of the $1.13 billion in ad revenue the tournament amassed in 2014, according to Kantar Media. Between CapitalOne, Quicken and TD Ameritrade, the financial services industry contributed $105 million in ad money toward the Big Dance last year. That's 9.3% of total NCAA tournament ad spending that's roughly on par with spending by restaurants such as Buffalo Wild Wings, Burger King and Taco Bell ($107 million, 9.4%) and well above the contribution made by insurance companies including Allstate, Northwest Mutual and State Farm ($94 million, 8.3%).

CapitalOne got more than seven hours of March Madness screen time from game breaks, in-game sponsorship and ads. Its brand was seen more often than any other during last year's tournament and had its name plastered all over a three-day March Madness music festival and the Final Four Fan Fest in Arlington, Texas.

That's great news for CapitalOne, but not always the best news for fans who end up choosing a card based on in-game advertising or game-day giveaways. Matt Schulz, senior credit card industry analyst for CreditCards.com, says it's worth taking a look at interest rates and fees before attaching your fandom to a credit card.

“My biggest piece of advice … is to not let a really cool perk or your favorite team’s logo cloud your judgment when you pick a card,” he says. “Do your homework. Sure, it might be awesome to represent your favorite team every time you pay, but if the card has a high interest rate or annual fee, it may not work for you.

That's no small thing as U.S. credit card debt soars toward pre-recession levels. The Federal Reserve Bank of New York notes that credit card debt rose by $17 billion last year, to $700 billion. That's still less than U.S. auto loan debt ($9.55 billion), student loan debt ($1.16 trillion) and mortgage debt ($8.17 trillion) and a slower growth rate than home equity loan debt (up $19 billion last year, to $510 billion). The Federal Reserve, meanwhile, put total revolving debt at $887.9 billion in January.

The amount of credit card debt being carried per person, meanwhile, varies wildly. The average per card can be as low as $1,098 for cards that don't carry a balance to $7,743 for those that do. TransUnion puts the national average in the middle at $5,234 per person, which is still less than the pre-recession high of $6,276 in 2008. But that debt has crept steadily upward even as the percentage of U.S. households with credit cards carrying revolving debt has decreased from 44% in 2009 to just 34% today, according to the National Foundation For Credit Counseling.

Curtis Arnold, founder of CardRatings.com and BestPrepaidDebitCards.com, notes that sports-based credit cards don't help the cause, but savvy consumers are getting wise to their pitfalls.

"I think if you're a big sports fan and just want to show off your support, I can understand the appeal of these cards,” he says. “If you're concerned with getting the most cash back in your pocket, then you should avoid the impulse temptation and not sign up for one of these cards at the spur of a moment at a sporting event. Generally, you come out ahead getting a simple card like the Citi Double Cash Card, which give you 2% cash back on all your purchases across the board.”

With help from Arnold and Schulz, we took a look at some of the sports-based credit cards available to fans today and came up with the pros and cons behind each:

Barclays NFL Extra Points Visa

Pros: Fans can customize the card with their favorite team's colors and logo. They also get 20% off at NFLShops.com, 10,000 points (or $100 cash back) for spending $500 in the first 90 days, double points on all NFL purchases (including tickets) and rewards including gift cards, jerseys and game tickets.

Cons: The honeymoon ends early. The 0% APR that cardholders enjoy for the first six months jumps to between 14.99% and 24.99%, depending on credits history.

Bank of America's PGA Tour BankAmericard MasterCard

Pros: A TPC Rewards program with discounted greens fees, 20% discount on regular-priced merchandise at TPC Shops (must be bought on the PGA tour), range balls, cart fees, dedicated lockers and perks for up to three friends. Cardholders also get a sneak peek inside private golf clubs, 1% to 3% off qualified purchases and tickets to the PGA event of their choice just for signing up.

Cons: All of those perks require you to be vigilant about payment and are still subject to certain restrictions, including the cardholder's golf handicap. Not surprisingly, that first year's 0% APR climbs to between 12.99% to 22.99% immediately thereafter.

Bank of America's Major League Baseball card

Pros: You can plaster your favorite team's image all over your card and get an online-exclusive $100 cash rewards bonus after making at least $500 in purchases in the first 90 days of your account opening, 1% cash back on purchases, 2% at grocery stores and 3% on gas for the first $1,500 in combined grocery store and gas purchases each quarter. Rewards don't expire and there's no annual fee.

Cons: Outright laziness. Unlike the cards listed above, this one has no real connection to the league through rewards, perks, game tickets or the like. You're basically paying for a Bank of America card with a paint job. This also means that your first year's 0% APR will jump to between 12.99% to 22.99% later and that every balance transfer will come with a 3% fee.

”I’s important to know yourself,” Schulz says. “If you know that you can’t resist the temptation of extra available credit, just say no to that new card. After all, there are plenty of other less expensive ways to support your team.”

BBVA Compass NBA American Express card

Pros: You get your favorite team on your card, but you also get a whole lot of perks thrown in. Cardholders get 10,000 bonus points when they spend $500 on qualifying transactions within the first 90 days of their account opening. They also get double points at supermarkets and gas stations, triple points on qualifying NBA tickets, NBA in-stadium transactions and NBAStore.com purchases and five times the points during NBA All-Star Weekend and two weeks of the NBA Finals. The 0% APR for six months and 0% to 3.99% balance transfer for 12 months is nice, as is the 20% discount at NBAStore.com. But perks including jerseys, tickets, pizza, video games and meet-and-greets with players are the big draws.

Cons: The rates. It's always about the rates.

"Watch the rates on these cards,” Arnold says. “The BBVA Compass NBA card, for example, has a rate as high as 23.24% (depending on your credit profile, you may qualify for a rate as low as 9.24%)!"

That doesn't just apply to your APR. After 12 months, your balance transfer rate rockets up to between 9.24% and 23.24% as well.

Discover

Pros: No, it doesn't want to be dressed up in team colors, but Discover is a big National Hockey League sponsor and, occasionally, that means tie-ins and promotions. Plus, you get Discover's 5% cash back on rotating categories, 1% cash back on other purchases, no annual fee, no foreign transaction fees and a free credit score with your monthly statement.

Cons: Besides the lack of team spirit, Discover's ties with the NHL seem sporadic at best. There aren't a whole lot of game-based rewards and that APR — 0% for 14 months and 10.99% to 22.99% thereafter — is a whole lot to pay for minimal in-game return.

American Express

Pros: By securing sponsorship deals with Madison Square Garden and venues and teams in Boston, Atlanta, Philadelphia, Chicago, Los Angeles, San Francisco and elsewhere, American Express is able to offer its cardholders exclusive access to tickets and invitation-only events.

Cons: The base price for entry is an “everyday card” with no annual fee, but a 12.99% to 21.99% APR. If you start off with its base “green card,” expect to pay your full balance monthly and a $95 annual fee.

— Written by Jason Notte for MainStreet

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This article is commentary by an independent contributor. At the time of publication, the author held TK positions in the stocks mentioned.