Consumers and Credit Card Offers
Sorting Through Credit Card Offers
Most consumers receive so many credit card offers that they fail to pay attention to the particular details of each offer. There are a wide variety of credit card offers out there, and one type of credit card that is gaining renewed popularity is the affinity credit card. How do you sort through it all? It’s not as hard as you may think.
Affinity Cards
So-called affinity credit cards represent a unique type of credit card and represent just a small percentage of all the credit card offers you receive. A new type of affinity credit card, The Enlightenment Card, is a rewards-style card that any socially conscious consumer will appreciate. The Enlightenment Card comes in several designs including a picture of Buddha meditating. Consumers like using credit cards that represent what they believe in and what is important to them. The Enlightenment Card can fill that need for the socially aware consumer. Consumers make clothing purchases and automobile purchases to reflect their interests, and selecting a credit card to reflect their personal interests is a logical extension of that.
What’s an Affinity Card?
An affinity credit card is geared towards a specific lifestyle niche and intended to be beneficial to a specific charity of nonprofit group. Consumers can earn points for their purchases, and the points can translate to money for the charity designated by the credit card. Affinity credit cards have been around for a couple of decades, but you might not have seen these cards among all the credit card offers you receive. If you are interested in an affinity credit card, you will probably have to do an online search to find one that is linked to a charitable cause that interests you.
No “Affinity” for Affinity Cards
Many financial experts recommend that you avoid affinity credit cards if you carry a high balance. If you use the card frequently and pay off the balance in full each month, there will be a greater benefit to the charity associated with the credit card. The lack of direct benefits to the consumer makes it a bad option for those who carry a high credit card balance. If that describes you as a consumer, you are probably better off selecting a card from all the credit card offers you receive than seeking out an affinity credit card.