Affinity credit cards are issued jointly by a Bank or credit card company and a charity or non-profit. These credit cards usually support the associated charity or non-profit. The name of the supported charity is usually printed on the credit card.
Affinity credit cards support selected charities by giving a one-time bonus on opening a new account. Alternatively, they may issue a percentage of the spending to the supported charity. The type of non-profit could be an organization working for the environment, an alumni organization, an education institution, or a charity for a cause.
Advantages of affinity credit cards
Affinity or charity credit cards are advantageous for customers who want to make a small contribution to charities of their choice.
- These charities or non-profit co-branded credit cards, help support a particular charity or NGO. They usually get a one-time bonus once the credit card is issued. These credit cards also get a percentage of the spending made to the non-profit.
- The partnering charity gets money from the credit card, but they also get visibility and exposure. If the charity is trying to work for a cause like an environmental issue or for the upliftment of some specific people, the association with a financial institution may help in spreading the word.
- The charitable donations to the charity or the non-profits are not taken from the merchant payments. In fact, these payments are made by the financial institutions to the charity directly.
- Affinity credit cards also offer regular rewards, miles, or points to credit card members.
Disadvantages of affinity credit cards
- Affinity credit cards do not offer similar rewards like rewards or travel credit cards. To look for the best rewards credit card look for our post here.
- These credit cards make very small donations to charity. Unless a lot of people use these credit cards there won’t be a substantial sum for charity.
- Card members do not get any tax deductions on the reward points or miles donation.
- Affinity credit cards though may appear good on file, do not provide much benefit to the charity. Their main advantage is that the people give away a very small percentage passively. A better rewards ratio is available with normal rewards cards. These cards also provide options to give the money to the charity directly.
#1 Card Name: Susan G. Komen Customized Cash Rewards Visa credit card from Bank of America
Fees: This card is available for a charge of $0 in annual fees.
APR: This card also offers 0% introductory APR for 18 months. After, this introductory period the applicable variable APR is 18.24 to 28.24%.
Charity or NGO: Susan G. Komen is a non-profit that works to enhance Breast Cancer Research
Our Ratings: 3 / 5
Pros and Cons of this card:
This is a great affinity credit card that offers a lot of rewards to credit card members as well. This card contributes $3 to Susan G. Koman for each new Customized Cash Credit Card which is open for 90 days. They also contribute $3 for each good-standing card renewal. Finally, they contribute 0.08% of the total card spending to charity. Bank of America is committed to contributing a minimum of $1.5 million to Susan G. Koman.
This card has an introductory offer of an online $200 cash rewards bonus after making at least $1,000 in purchases in the first 90 days of account opening.
Further, this card offers 3% cash back in a selected category of choice. For example, card members can choose anyone category from gas, online shopping, drug stores, travel, home improvement, and furnishings. Card members also earn 2% cash back at grocery stores and wholesale clubs. A quarterly maximum of spend $2500 applies to the 3% and 2% categories. Card members have the option to choose the selected category every month. Finally, they earn 1% cash back on all other purchases on meeting the spending criteria. Existing Bank of America customers can earn higher cash back if they are Preferred Rewards Members.
Card members can redeem their rewards for a statement credit. Furthermore, they can also select to transfer their rewards starting at a minimum of $25 to an associated BoA or a Merril account.
#2 GREY2K USA VISA Credit Card
Fees: This card is available for a charge of $0 in annual fees.
APR: This card also offers 0% introductory APR for 12 months. After, this introductory period the applicable variable APR is 18.24 to 29.24%.
Charity or NGO: GREY2K USA is a Charity that works on protection of the greyhound dogs from dog racing.
Our Ratings: 4 / 5
Pros and Cons of this card: GREY2K USA Worldwide receives $50 for each activated card. The card should be active for a minimum of 90 days. Additionally, a percentage of every retail purchase made using the card will be donated to GREY2K USA.
Card members also earn bonus rewards points on using this credit card in-store. Customers can access an up-to-date and complete list of the participating retailers on the Rewards Website. They can earn Bonus Rewards points for online purchases. To earn these points they must access participating retailers through the Bonus Rewards Web site. Finally, all the purchases should be made using the link provided.
The Rewards points can be redeemed for name-brand merchandise, gift cards, travel, event tickets, and activities. The main drawback of this credit card is the cumbersome rewards through the Rewards website.
#3 Card Name: Aspiration Zero Mastercard
Fees: This card is available for a charge of $60 in annual fees.
APR: 15.9 25.7% of variable APR
Charity or Non-profit: Aspiration Zero is a green credit card that aims to make fast shopping carbon-neutral by planting more trees.
Our Ratings: 3 / 5
Pros and Cons of this card: Customers can spend with their Zero credit card to neutralize their carbon footprint. Though, they can earn up to 1% cashback. Card members can use their rewards to plant more trees or receive a statement credit.
Every time a card member makes a purchase Zero plants a tree on their behalf. Card members can also plant another tree by rounding up their purchases to the next dollar. They can also track their carbon footprint by tracking in an app. As per Zero’s estimate, an average customer in the USA can offset their carbon footprint by using their Zero Credit Card once a day.
Card members earn rewards worth 1% of the total spending in the month once they reach carbon-neutral in a month.
#4 Card Name: The Nature Conservancy Customized Cash Rewards
Fees: This card is available for a charge of $60 in annual fees.
APR: This credit card offers a 0% Introductory APR. This offer is for the first 18 months for all balance transfers in the first 60 days. After the Introductory offers the applicable variable APR is 18.24 28.24%.
Charity or Non-profit: The Natural Conservancy
Our Ratings: 2 / 5
Pros and Cons of this card:
This is a great affinity credit card that offers a lot of rewards to credit card members. This card contributes to The Natural Conservancy for each new card which remains open for 90 days. Finally, they contribute 0.05% of the total card spending to the Natural Conservancy.
This card has an introductory offer of an online $200 cash rewards bonus. They have to make at least $1,000 in purchases in the first 90 days of account opening.
Further, this card offers 3% cash back in a selected category of choice. For example, card members can choose anyone category from gas, online shopping, drug stores, travel, home improvement, and furnishings. Card members also earn 2% cash back at grocery stores and wholesale clubs. A quarterly maximum of spend $2500 applies to the 3% and 2% categories. Card members have the option to choose the selected category every month. Finally, they earn 1% cash back on all other purchases after meeting the spending criteria. Existing Bank of America customers can earn higher cash back if they are Preferred Rewards Members.
Card members can redeem their rewards for a statement credit. Furthermore, they can also select to transfer their rewards starting at a minimum of $25 to an associated BoA or a Merril account.
#5 Card Name: Harvard Alumni Mastercard
Fees: This card is available for a charge of $0 in annual fees and $0 for foreign transaction fees. But there is a 2% balance transfer fee on this card.
APR: 0% Introductory APR for the first 12 months for all new balance transfers. After the Introductory offers the applicable variable APR is 13.49 to 18.00%.
Charity or Non-profit: Harvard Alumni Association
Our Ratings: 3 / 5
Pros and Cons of this card: This is an exclusive credit card for Harvard Alumni which offers great rewards to the card members. Alumni earn points for every dollar they spend. They can earn 2x for gas, grocery, and dining purchases. This credit card also offers 10,000 bonus points when the card member spends $500 in the first 90 days of card membership.
There are also Harvard exclusive benefits, for example, card members earn double points for gifts to Harvard University. Card members can also support Harvard University’s financial aid programs. They also get Automatic, no-cost membership to Harvard University Employees Credit Union (HUECU). Harvard Mastercard also offers free travel insurance, ZERO liability on theft, FICO score updates, and ID Theft Protection.
Card members can earn a 1% cash back for all their spending on this credit card. The points can also be redeemed for travel by airlines, taxis, or other transit modes. Card members get 25% extra on redeeming the points for travel.