More on Bank of America affinity deals

In many ways, Bank of America has been a leader in affinity deals. After all, it bought MBNA, the credit card giant that many consider a pioneer. The latest Bank of America foray is a NASCAR checking account. That follows other deals with alumni associations, nonprofits, charities and the like. Typically, Bank of America makes a donation to an affinity group when the account is opened and on the account anniversary thereafter. Often, a percent of debit card purchases is donated to the group. It's not a bad way to build loyalty and foster ties. It seems to be working for Bank of America. While other banks have similar programs for credit and debit cards, Bank of America has gone beyond that and included other products. Some affinity group participants, for example, get special rates on CDs and other products.

For more:
- here's an AP article