If you have an “affinity” for a special charity, there is a way to easily make small donations or contributions. An affinity card is much like a regular credit card. You make purchases and make payments until the debt is paid off. They are handled by major banking corporations and have the Visa, MasterCard etc., logo somewhere on the front. However, these cards differ in that instead of providing you with a bonus or incentive, your favorite charity is the recipient.
Most of the time these cards give your charity a small percentage of the amount you`re charged. When you apply the company will let you know exactly how much money will go to your charity with every dollar spent. Everyone has the best of intentions but aren`t always able to follow through. You may have wanted to send in a check or donation to your favorite charity but just didn`t take the time to do it.
With the affinity card you are able to make a contribution without the check and without giving all of the money upfront. You just go about your regular spending habits. Use the credit card just like you normally would and remember that with each swipe of the card, your non-profit organization benefits. You can think of it in terms of a cash back credit card. However, with the affinity card you aren`t getting the cash back; your charity is.
There is lots of debate when it comes to the effectiveness of an affinity card in helping a person donate to their favorite organization. Most of the arguments center on the amount that is actually received by the charity. The percentage is typically small and in order to make a real contribution a person would need to put thousands of dollars on just one card in the course of a year. For most people, these types of figures just don`t seem to work.
The other issue is the overall cost to the cardholder. Affinity cards usually have an annual fee. In addition, the interest rates are often higher than regular credit cards that offer alternative incentives. In other words, some people believe that the only way to really make a donation with an affinity card is to use it all the time and pay off the balance each and every month. If you are considering an affinity card, be sure to check with the banking group offering the card to learn more about the amount of the donation, the annual fee and the interest rate.
It is also important to note that affinity credit cards have taken on a new meaning as of late. Instead of being associated with charities they are attached to specific companies. For example, you can get a Disney affinity card. The card itself is usually covered in some type of Disney picture. Instead of earning cash back or traditional points, you may be earning vacation stays within the resort or free tickets. If you use the card to make a Disney purchase you are able to earn more and get closer to the vacation you have been looking forward to.
It isn`t just Disney. Today, you can find all types of credit cards that are associated with companies and businesses that are interested in getting the attention of the average consumer. Whether you are looking for an affinity credit card, cash back credit card, or even a card that helps you earn points for travel, sites like Moneysupermarket.com list out a variety of opportunities. The choices are summed up with the basic information that you will need to know in order to make your decision.