In case your credit card is a co-brand between the issuer bank and British Airways for example, and if you happen to be a frequent flyer, there you go, enjoy the discounts and extra services they offer you in return for your “fidelity”.
Think twice before you opt for just any co-branded card. See to it that it is really in your advantage if you do so, meaning don’t choose it unless it is necessary. Let’s say you eat a lot out, and some discounts would do you good since you are such a loyal client. In this case, find that credit card that is a co-brand between the issuer and that specific restaurant chain, or hotel chain, so that you can start benefiting from the business. But these are really worth only if you are a frequent customer.
It may attract you the fact that most of these cards offer you the advantage that there is a very low interest rate for the introductory period (which is 6 to 12 months usually). Don’t forget to check what interest rates they charge after this period is up. Co-branded cards, like any other type of credit cards, serve as a mean of payment and a source of credit as well. Having such a card has som other advantages as well, you can receive discounts on sevaral products, or win airline miles if you own a card that has the logo of the respective airline company imprinted on it.
Co-branded credit cards are often mentioned along affinity cards, and the similarity of them comes from the fact that both represent a sort of a connection between a company or organization and the customer. While having a co-branded card will reward you for being loyal to a certain company, by opting for an affinity card you can donate a small percentage of your purchases to an organization that fights for a cause you agree with.
There are more and more companies which from time to time organize different competitions for those who own a co-branded card advertising their brand. You could find yourself to be the winner of a prise and enjoy all the other benefits of being a loyal customer of the company, like no annual fees and higher credit limits. Co-branded cards are supported by both Visa and MasterCard, and you can browse through many kinds of available offers. Make sure you choose the best deal, based on your needs and lifestyle.
Manage your finances wisely, and if you opt for a credit card, read their terms and conditions carefully so that advantage will be on your side. Never choose one just because the brand sounds appealing to you, but make sure you are a loyal client of the respective brand which has also proved useful to you and your family over the years.