NASCAR fans will soon have the opportunity to show their support for the sport or for their favorite driver in a much bigger way. Bank of America has coupled with the sports giant in order to offer a NASCAR branded credit card. Cardholders will have the option of choosing between a card with a NASCAR logo or with the logo of their favorite driver.
The new NASCAR card is one of many cards that fall under the “affinity banking products” being offered by the company. Other organizations falling under this umbrella include alumni associations, special interest groups, and other types of sports and teams.
The new tie between NASCAR and Bank of America is seen as a win-win situation by both companies. According to Steve Phelps, the chief marketing officer of NASCAR, “Our fans are always looking for new ways to support NASCAR and show their passion for the sport and drivers. NASCAR, through its arrangement with Bank of America, continues to generate beneficial opportunities for our dedicated fan base all throughout the country.”
Bank of America is getting more deeply involved with NASCAR than just through its credit card offerings. In fact, the bank signed a five year deal with the car-racing franchise last year, making it the “Official Bank of NASCAR.” It will also be sponsoring the Bank of America 500 at Charlotte’s Lowe’s Motor Speedway in October.
Within the affinity group of credit cards, consumers can choose from a variety of other card types as well. For example, those wishing to give back a little might be interested in the Habitat for Humanity credit card. When applicants are approved for this card, Bank of America makes an initial donation to the group and then makes additional donations every year the card is kept open. Generally, this annual donation is determined as a percentage of the purchases that were made with the card.
These types of credit cards are not exclusive to Bank of America by any means. Wells Fargo & Co., for example, offers cards that allow cardholders to earn points and then transfer them to causes such as the World Wildlife Fund or the American Red Cross. Regardless of the company backing the card, these cards are beneficial to the cause they support and help the credit card company establish a better relationship with its customers.
Related Posts:
- Bank of America Launches NFL Credit Card - If you are a football fan, you might be excited to learn about the new offering being made by Bank of America....
- Bank of America Relaunches Card with New Rewards - Apparently Bank of America believes that one of its cards is an oldie but goodie that deserves a second go around. On...
- Bank of America Merger - If you haven’t heard by now, Bank of America is now one of the largest issuer of credit cards in the United...
- NFL Transitions from Bank of America to Barclays - The National Football League (NFL) has recently announced the decision to move the leagues credit card business from the Bank of America...