Who Wouldn’t Want a Camp-Branded Credit Card?
Posted on July 28th, 2009 by Kevin Martone – Be the first to comment
Do you already carry a branded credit card, maybe for your University or favorite sports team? More and more large nonprofit organizations offer these “Affinity Credit Cards” to both keep their organization at top of mind each time their constituents use their credit card and also to raise a bit of money. Most of these cards give a small percentage back to the nonprofit organization each time the credit card is used. Especially when the economy is reeling and donors might not be able to give their usual donations, these credit cards allow them to give back without a donation.
In the past, this was really only an option for the largest nonprofits. But some companies are now offering this option to nonprofits of all sizes. Two we’ve taken a look at are CapitalOne’s CardLabConnect and CardPartner. They both offer basically the same options:
- The Organization can offer a few different designs with the organization’s branding and/or associated photo.
- Constituents get a credit card with no annual fee and competitive rates.
- When the Constituent uses the card the first time, the Organization receives $25 (CardLabConnect) or $50 (CardPartner).
- The Organization will receive a specific percentage of every payment a Constituent makes with their credit card: 0.3% from CardPartner and 1% from CardLabConnect.
The major difference? CardLabConnect is run by Capital One and promoted by NetworkForGood, so their trustworthiness is very high.
Whichever option suits you best, NetworkForGood has a couple of useful articles available online to help you better understand these services:
- A discussion of Affinity Credit Cards for small nonprofits in general.
- An Affinity Card Campaign Guide and Planning Calendar.
Have you considered an Affinity Card for your organization? Please let us know if you choose to implement one of these services and what you learn in the process.
