January 10,2007
-
BoA Has an Affinity For Brands
Hot on the heels of its acquisition of MBNA, and its subsequent leapfrog over Chase to the spot of biggest bank around, Bank of America is creating new ties with a slew of universities, charities, and other organizations. In doing so, BoA is creating a stable of affinity credit cards with which to attract consumers. By partnering with the names that stir passion in Americans – the charities that they give to, their beloved alma maters – they create new opportunities to court consumers where, maybe, the draw just wasn't there before.
Some of the biggest names in BoA's deal book include Habitat for Humanity International and the National Wildlife Federation. BoA is cultivating customer loyalty with the stamping of these brabds on everything from credit cards and checkbooks to bank statements and promotional materials. Furthermore, cardholders under these deals usually have the perks passed on to them, including discounts and access to special deals and rates on IRAs and CDs.