Why Affinity Issuers Should Focus Programs

Banks should use focused marketing to better serve their credit card customers’ needs. By discarding the “shotgun” marketing approach, bank card issuers may find a surprising difference in public opinion and the profitability of their operations.

Take for example affinity cards: A long term successful program requires more than just placing the organization’s name above that of the bank’s on the card. 

Ensuring affinity credit card success

If an issuer really wants a program to take-off, it needs to be concerned about the group. The bank needs to “buddy-up” to the affinity group and create a customized program that’s integrated into the organization. A single person should be responsible as the interface with the group. It’s up to that individual to find out about the affinity organization’s members and their specific needs. 

For example, if the affinity group has a newsletter, it may be feasible to enclose a small insert into its mailing envelope. The insert would carry some special feature about the card or a perk of particular interest to the group. The insert wouldn’t cost the bank much, especially if it was so small that it didn’t increase the newsletter’s postage costs.

This act alone would make the affinity card program appear to be integrated into the organization.

Another point of flexibility is the billing date. If the group is composed of retirees, this could have a major impact. For example, if the affinity card’s billing date falls on the 2nd of the month, but a retired person’s fixed income check doesn’t arrive until the 15th, this may create a cashflow crunch for the individual. Just this problem alone would make a person less likely to use the card. Banks should synchronize dates with the cardholder. Both parties could benefit greatly at little or no cost.

These are just a few ideas. Anyone working closely with an affinity organization could doubtlessly find numerous other ways to make the card a closer part of the group. This in turn would foster greater usage and profitability without incurring much additional cost. 

Focus on the needs of the group

If banks focused on specific needs of groups, it would generate a much more positive sentiment amongst members. It would also be more profitable than using the shotgun approach of trying to be all things to all people.

Being all things to all people by making one set of rules for everyone, creates one very large, but largely unhappy, group of customers. By custom handling a select group of customers with care, some large dividends can result.

One area that would be affected is losses. Behavioral psychology says that when a person feels special or when emphasis is placed upon their needs, it’s much more difficult for that person to do something negative to the thoughtful entity. Applied to this situation, it implies that fraud, bad debt, etc., would be less prevalent since the cardholder would be inclined to go the extra mile. In other words, they might try to get payments in on time, hesitate before filing bankruptcy or maybe even sacrifice something because they feel as though they have been treated nicely. 

Sometimes it’s the little things that are the most important. Affinity issuers should consider the little things they can do to cater to groups. Focused marketing is the key to giving the affinity customer that special attention.

Copyright Dan Sinisi, 1990

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Frequently asked questions

You can find out the value of old credit cards by checking how much similar cards sell for. There are several ways to do this.

The simplest way to determine the value of old credit cards is to ask an experienced collector. If you submit an inquiry via our contact form, we can connect you with an expert who can assist you and point out if there is anything rare or unusual in your collection.

Alternatively, you can become a member of the American Credit Card Collectors Society. Membership in our credit card collecting club provides access to resources and knowledgeable members who can help. Benefits of membership include access to a gallery containing thousands of cards with historical pricing information, and access to our entire collection of newsletters, from 1994 through the present day.

You can look at recent sales on auction sites, however, there are some considerations to keep in mind when doing this. Firstly, it’s important to look at selling prices, rather than asking prices. Selling prices are the prices people actually paid, while asking prices can be very different. Secondly, historical sales on some sites are only saved for 3 months, so you may not find something that exactly matches what you have. Thirdly, it is sometimes possible to see rare or unusual cards sell for lower prices than they should have because people do not understand their worth, the ads don't do justice to the card, they're listed in the wrong category, or any combination thereof.

There are always people in our club who are actively buying cards. Collectors tend to focus on a niche, like gas cards or retail cards, or they might focus on a slightly broader area, like bank cards or travel and entertainment cards. Many of the rarest or most unusual cards will exchange hands in private sales. Please contact us if you are thinking of selling your collection.

You can also sell your old credit cards on online marketplaces. You will get the highest price if you sell each of your cards individually, although this approach requires the most effort. At the opposite end of the effort scale would be selling all cards as a job lot, an approach which typically results in the lowest price on a per-card basis. Halfway between these two approaches would be to group cards into different categories and to sell these individual groups, e.g., BankAmericard, Master Charge, oil and gas, retail, and so on.

To join the club, visit the membership section and complete the registration form. You can pay by check or PayPal. We offer annual or lifetime memberships. If you have any questions please contact us via the form on our website.

Credit cards are more worthwhile collecting if they are rare, in good condition, have historical significance, or are associated with famous personalities or events. Valuable modern cards might include those that are difficult to obtain, such as American Express Centurion (a.k.a. ‘black’) cards, while older credit cards might include early independent bank cards, American Express, Diners Club, or BankAmericard (Visa) cards from the 50s/early 60s, or Master Charge (MasterCard) cards from the late 60s. Rare or unusual cards can also be sought after, such as those issued in small numbers, like small independent department stores or gas stations, or cards with appealing aesthetics.

Consulting with other collectors or experts in the club can provide valuable insights. Contact us for more information via the form on our website.

We do not offer an appraisal service in a traditional sense (such services are normally a paid service) but we can connect you with an expert who should be able to assist for free and point out anything rare or unusual in your collection. The simplest way to do this is to submit an inquiry via our contact form.

The American Credit Card Collectors Society accepts donations and is most grateful for any we receive. When donations happen, we strive to find good homes for cards where they will be looked after, matching cards with collectors who will appreciate them. The club may charge members a nominal fee for donated cards, and the proceeds are offset against the running costs of our club. We are a non-profit organization. Running costs include expenses like our convention and website hosting. Donations are most popular for people getting out of the hobby, or when someone has inherited a collection and doesn’t know what to do with it.

If you wish to donate your collection, please contact us via the contact form above.

American Credit Card Collectors Society