More and more people are getting affinity credit cards, which offer a wide range of new benefits and features. Find out what they are, what they do, and if one of them might be good for you.
Affinity credit cards are one of the most popular types of credit cards we have today, especially as balance transfer deals and other similar deals lose their popularity. Once, the focus was on how we could save money by moving our credit card debt around. Now, more and more of us are looking for ways to make money from our credit cards or at least get something out of the way we spend every day. Because of this shift, there are now a lot more rewards cards and cash-back cards on the market. But where do affinity cards fit in?
A simple affinity card shows that the person holding it is a part of a certain company, group, or field of interest. The card will usually have a look that shows this link, and it will also have some benefit that has to do with the affinity topic. One good example is a card from a hotel chain. If a credit card account holder travels a lot for business or pleasure and has a favourite chain of hotels to stay in, a credit card linked to that chain can offer discounts on room reservations, a points programme that lets you build up credits for free meals or use of facilities, or even access to advanced concierge services to make your stay in a new city more enjoyable.
A hotel card like this one is an example of a place where affinity cards and rewards cards meet and overlap, but the rewards on the affinity card will be more specific than on the general card.
A charity credit card is another type of affinity card that has become more popular over the past few years. In a lot of ways, these cards are like cash-back credit cards, where a small percentage of what you spend on the card is refunded. The most important difference with a charity card is that the cashback doesn't go into your account or come in the form of a check. Instead, it goes to the charity or charities that are linked to the card. Animal charities and health research charities are popular, but the range is so big that you're sure to be able to find a charity card for a cause you want to help.
Affinity cards for sports are very similar to charity cards. These work in a similar way to charity cards, but instead of the money going to charity, it goes to the card holder's favourite sports team. By having one of these cards, you can help financially support your team and show your support by showing the logo or badge of your team on the card.
The last type of affinity card could be called a "lifestyle card." Instead of giving you direct rewards or helping your favourite cause, these cards are just regular credit cards that look like something you like, like your favourite TV show or piece of art. These cards aren't as popular as they used to be, for obvious reasons. Cards with more concrete benefits have made them less useful.
So, should you use affinity cards? In general, they probably won't have as many features as the best general credit card on the market, but if you can find one that fits your lifestyle well, they can be very appealing and worth applying for.
