Affinity Credit Cards: Credit Cards with a Heart?



 


Do you feel philanthropic today? Well, I have good news, affinity cards are ready to help you give. For example, if you love animals and like the convenience of a credit card, perhaps, the affinity credit card is right for you. Affinity Cards by definition, donate a percentage of your spending dollars to your favorite cause.

A Painless Way to Give to Your Cause

One recipient from an affinity arrangement is the American Humane Society. It receives hundreds of thousands of dollars by their association with Bank of America. While you consider "donating" money to the AHS through credit spending you might be interested in knowing that this venerable group has been helping pets and children for over 130 years.

Bank of America offers the usual 0 percent introductory interest rate and no annual fee. Their concept for rewarding you is World Points through which you accumulate points as you charge purchases to your puppy card. You can choose cash back, travel, merchandise or personal services. BOA donates 25 cents for every hundred dollars you charge to the Humane Society. That is considerably less than some other banks donate. Nonetheless, you can sip your latte guilt free knowing that precious little puppies and kittens will benefit from your caffeine fix. While your canine friend guards your home BOA guards your credit card with absolute fraud protection.

Let's not overlook the American Society for the Prevention of Cruelty to animals. Their credit card, which is promoted on their site, is through First USA. The bank currently offers generous benefits, such as Flexible Rewards which are points that can be redeemed for goodies. Also, the first time you use your card, First USA donates $75.00 to the ASPCA. Thereafter, when you buy your gas, clothes or tickets to the big game, or anything your heart desires 0.2 percent of the sale price is donated the this laudable cause. They also offer a 0 percent introductory finance charge and no annual fee. You can apply online and the application process appears to be quite simple.

Chose Your Cause and Go for It

After you chose the charity or organization that tugs at your heart and purse, determine if they have an affinity arrangement with a credit card company. Then take a close look at the benefits and disadvantages. Some affinity cards give only ½ percent to the organization. As you noticed, First USA donates four times as much. Bank of America is more of a tightfisted. Naturally, you also want to find the best benefits you can get.

Since some affinity cards charge higher interest rates than traditional bank cards, compare cards using this criteria:

  • Competitive Interest rate
  • Strong cash back rewards
  • Fraud Protection
  • Easy online account management
  • Competitive default interest rate and late charge
  • Generous introductory interest offers

No Tax Benefit for Your Generosity

Though you are making an "altruistic donation" by using infinity cards the amount is not tax deductible. It doesn't seem fair, but there it is. Therefore, lowering your tax burden is not part of this equation.

Could Your Alma Mater or Association Use A Gift?

You may want to assist your dear old alma mater, or your professional associations such as the American Counseling Association or the American Medical Association. Perhaps you want to give a few bucks to the largest museum in the world, the Smithsonian Institution; this may be a pain free way to offer financial support. Your philanthropic choices are many and diverse.

Generosity of Americans

Because human beings are generous by nature, the popularity of affinity cards is rising sharply. According to Bill O'Reilly on Fox news, "the average American family gives 14 times as much to charity as the Italian family does, seven times as much as the German family."

Some experts say that affinity and co-brand credit cards (i.e., Home Depot and Staples), may soon top 50% of all credit cards issued. Affinity cards can be a win-win situation for buyers and their most popular causes -- the environment, crime, education, children and animals.

Enjoy sliding that credit card for the pleasures and necessities of life and rest assured, your openhandedness is promoting the charities, values and organizations you appreciate. Now go forth and give -- Affinity Credit Cards.






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