Bank Of America Rolls Out First Nascar Affinity Program

by Nina Lentini, May 24, 2007, 5:00 AM

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Nascar fans, who up to now have faced a dearth of opportunities to express their passion financially, can rejoice. Bank of America is rolling out a new affinity program that will put Nascar Nextel Cup Series driver Kasey Kahne and his No. 9 Dodge smack dab in the middle of its credit cards and debit cards and a Nascar logo on the checks.

The launch of BofA's new national program coincides with the national introduction of affinity banking programs, enabling consumers to display their passion through their everyday banking experience, corporate spokesperson Joseph Goode told Marketing Daily.

"Through our acquisition of MBNA, the Nascar affinity [credit card] program was folded into Bank of America enterprises," he said. "But we're taking that model and driving it through deposit products. This bundled Nascar offering includes credit cards, debit cards, checks and statements to really provide the Nascar fan a bundled offering with a supercharged rewards program."

Nascar banking customers also can use their personal check card or credit card to earn RacePoints, redeemable for Nascar merchandise, prizes and even exclusive, once-in-a-lifetime experiences--such as having access to the red carpet area for driver-introductions or serving as honorary crew member for a day.

The program will be marketed through points of sale in BofA's banking centers, online at bankofamerica.com, on spot radio and newspapers in key markets around the country where the bank has Nascar track relationships such as Charlotte, N.C., Dallas and Chicago.

The Nascar rollout coincides with a "significant national rollout of a broader suite of affinity deposit products," Goode said, "some cause-related, college and university alumni associations, special interest groups and professional organizations.

"Our customers have passions for a lot of different interests--not just sports--so we've taken this affinity marketing model and developed a whole suite of affinity products so that our customers can demonstrate their passion for their interests in their everyday banking experience."

Among the more than 20 organizations are: Habitat for Humanity International; the Humane Society of the United States; Defenders of Wildlife; Ducks Unlimited, Inc.; Precious Moments, Inc.; Boat Owners Association of the United States; New York State Bar Association; The Florida Bar; and the National Association of Social Workers. With every customer sign-up for these affinity check cards or credit cards, Bank of America will financially support these organizations.

In addition to Kahne, Nascar banking customers can also carry select products of Dale Earnhardt Inc. in their wallets, including Dale Earnhardt Jr., Martin Truex, Jr. and Dale Earnhardt. BoA plans to expand its Nascar banking program with additional teams and drivers.

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