While NASCAR gets the headlines, especially in this part of the country, the bank's early testing has found charitable causes such as Habitat for Humanity International and the Humane Society of the U.S. to be its bestsellers, Kenworthy said.



http://www.charlotte.com/business/story/132181.html

Posted on Wed, May. 23, 2007

CUSTOMER LOYALTIES

BofA to give program more gas

New national promotion to feature products for race fans

RICK ROTHACKER

rrothacker@charlotteobserver.com

As it looks to sell more checking accounts and debit cards, Bank of America Corp. increasingly wants to tap customers' loyalties to sports, universities and charitable causes.

The Charlotte bank has been testing its "affinity banking" initiative since last fall but starting today will put more marketing muscle behind the first batch of 27 products. The biggest splash will be for new NASCAR and driver accounts as the city gets ready for Sunday's Coca-Cola 600 at Lowe's Motor Speedway.

Bank of America began previewing the NASCAR products in Charlotte last week but will kick off a national promotion with an appearance by driver Kasey Kahne noon today at its uptown headquarters.

Under the program, race fans can get logos on their checks, debit cards and statements, and earn points when they make purchases.

"We think it's a reason to come to Bank of America," said Cathy Kenworthy, the bank's deposits executive.

While NASCAR gets the headlines, especially in this part of the country, the bank's early testing has found charitable causes such as Habitat for Humanity International and the Humane Society of the U.S. to be its bestsellers, Kenworthy said. Other options include accounts with ties to universities and professional groups around the country.

Bank of America got the idea for affinity banking last year when it bought MBNA Corp., which pioneered the concept in credit cards. It's also pushing to add innovative twists to financial products that are largely the same from bank to bank.

Kenworthy said the new accounts can lure customers from competitors and prompt current clients to open multiple accounts. Many consumers have more than one credit card, but it's becoming more common in banking as spouses maintain separate accounts and their children add banking services, she said.

As an added draw, Bank of America's NASCAR accounts earn "RacePoints" that can be redeemed for merchandise and fan experiences. With other cards, the bank makes financial contributions to the affinity group.

Bank of America plans to continue adding organizations, including new drivers, Kenworthy said.

In the credit card realm, the bank partners with about 5,000 groups, sports teams and others.

Affinity for NASCAR

Bank of America is offering five checking accounts and debit cards with racing ties:

• NASCAR

• Dale Earnhardt Sr.

• Dale Earnhardt Jr.

• Martin Truex Jr.

• Kasey Kahne

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