First of what I hope is many — First Bank of Omaha has just announced it will discontinue its NRA branded Visa card. The announcement was covered on CNBC article “First Bank of Omaha bails on NRA-branded Visa card”. Why?
The First National Bank of Omaha said Thursday it will not renew a contract with the National Rifle Association to issue its NRA-branded Visa credit card.
"Customer feedback has caused us to review our relationship with the NRA," a spokesperson for the bank told CNBC. "As a result, First National Bank of Omaha will not renew its contract with the National Rifle Association to issue the NRA Visa Card."
This is a common vehicle for the NRA to label itself and to collect money. The credit card company gives the organization a cut on the value of EVERY purchase plus a cut of the annual fee.
This is something every bank customer should ask their bank: Do you issue an NRA cobranded card? Do you want to keep my business? If the second answer is yes, the first answer better be “No”.
Have you asked your bank yet?