Years ago, I conceived of and pitched an idea to American Express called the "Care Card." or "White Card." -- a play on the Amex Centurion Card (commonly called the black card.") It got all the way to Josh Silverman, then President of Consumer Products for Amex. And then got squashed.
The idea was simple, for elite cardmembers (those who spend over $100k annually on their personal card) they could opt to waive their rewards points and instead, use those points to adopt a child in need. Books, food, education, clothing.. you name it. Every dollar you spend would help this, specific child. Your card would literally have a photo of that child on it.
For Amex it would increase spend. -You'll opt for the Amex over the Visa in your wallet because of little "Maria." You're opting to pick up the tab at lunches etc to get more dollars for your child and to show how altruistic you are to your friends.
Cardmembers would push-back against businesses that didn't accept Amex as a form of payment. No longer is it acceptable for merchants to steer cardmembers towards another card type, because little "Maria."
The cardmember gets to feel empowered, like they're making a positive impact on the world.
And Little Maria gets a leg up in life. It's a win, win, win.
I was told by American Express that they had tried a "giving" card a year earlier in Europe called "The Red Card." This card gave dollars to HIV research and support in Africa, based on how much you spent on it. It was a project of Bono's and it tanked. Apparently, people say that they're giving but their actions show otherwise. I was told that, because of that experience, there was "no appetite for altruism."
What they failed to see was that the "Red" card gave money to a "cause." My card gave money to a specific human being. When trying to convey this I quoted Stalin ( #sellingwithtng tip, don't quote Stalin in a sales call):
"A single death is a tragedy, a million deaths is a statistic." I said the Red Card was a statistic, the Care Card is alleviating tragedy.
Still, they passed on it.
I hadn't thought about this experience in a long time, then I saw the below video in my Facebook feed. I should have called it the "Robin Hood Card." -Or some play on that.
Pretty awesome idea re the restaurant, eh?
This would have worked. Seriously though. Amex c-levels failed to realize the RED branding was seen as just that: a brand. While some non profits do break the mold, the perception of RED was your money would be used on $1000 dinners between celebs and brands so they could make biz deals or, more likely, discuss their huge ad spends. If i want to pay to stop AIDS, I want to pay to stop AIDS, not pay for ads to maybe get money to stop AIDS. LOL. Those who are most likely and most likely to have the means to give a meaningful amount do so in almost a hipster-like fashion: if the non profit is too big or too hip, it's not worth giving to. Honestly though you dont even need a card for this, You could just put a bunch of non-profits next to the other choices of what I can do with my points. Like I can convert it to cash or reduce my statement balance or transfer to delta or give to this 503c. Probs more relevant than ever as I currently have 500k points on my venture rewards card and nothing to do with them as i refuse to use them for <1 cent towards cash/amazon when they're 1.1-1.4 cents if used with airlines/hotels (which I currently have no use for.) But I might be tempted to use them for 1 cent if it goes to adorable-impoverished-child-or-animals-face. Well, tbh, fuck the faces. Grab top 10 reputable non-profits in diverse cats that I actually give any fucks about e.g. eff, innocence project, etc. Then give me a "share on facebook" link that uses my referral code.
Yeah, you could do that. I’m pretty certain it already exists, actually. I think Amex will help facilitate the charitable giving of points. My idea was about supporting a human, not a cause. By doing so, it changes behaviors on both the card side (spend more) and the merchant side (accept more). It was perfectly tailored for Amex. They should still do it. Awesome to hear from you, 3.5 years after I posted this. Hope all is well!
I feel like this idea is a lot more relevant now than ever. I wonder if there's a way to make it go viral, a la McDonald's schezwan sauce. One thing I do wonder- what is the lowest viable spending amount for the card?
here's another: you gotta love the name too...