Latest credit cards let you show off your family, pets, car
By Chris Woodyard
USA Today
Consumers hankering to show off their family photos — or their car or their dog — are getting more chances every time they whip out a credit card.
That's because more credit providers are offering photo credit cards, in which a favorite image is emblazoned on the face of the plastic.
The latest include a configure-your-own car online that appears on the credit card of BMW's Mini division, and your favorite pet on a PetRewards Visa, co-sponsored by the makers of Science Diet pet food.
"Lately, everyone has been trying to make cards that look different from everyone else," says Spencer Nilson, founder of The Nilson Report, a newsletter that follows the credit card industry.
The idea isn't entirely new. Companies have been putting customers' faces on credit cards as far back as the 1970s, says Diogo Teixeira, president of the American Credit Card Collectors Society.
But the idea of images of all sorts on credit cards never really caught on until the digital photo revolution, which makes it easy to send a picture via the Internet. "It's fast, it's quick, it's all automated," he says.
Plus, "There is demand for personalization," says Niki Manby, senior vice president of product innovation for Visa USA. "Now, consumers have lots of choices."
Personalized image cards include:
The card includes discounts on new Minis, accessories and service.
While the majority of pictures so far have been dogs and cats, Hill's says parrots, rabbits and horses have also been included.
Most choose family pictures. "It's a feature that really appeals to people who are sentimental and emotional," says Rajive Johri, First National Bank president.
The BMW Mini and PetRewards cards don't cost anything to get and have no annual fee.
The Mini card's interest rate ranges from 10.24 percent to 18.24 percent, depending on credit history after the introductory rate of 0 percent for the first six months.
After introductory rates, the PetRewards card has an interest rate of 11.24 percent on balances up to $16,000.
Consumers need to pay attention to interest rates and the fine print, not just images on credit cards, says Bill Hardekopf, CEO of LowCards.com, a credit card shopping comparison Web site.
"You can get so caught up in the marketing hype that you think, 'Isn't this neat?' and you're paying a couple percentage points higher than you should be," he said.
