Halifax has launched a credit card intended to inject much-needed funds into grass roots rugby union clubs in England.
Clubs which sign up for the Rugby Round-Up card will receive £10 from the building society for each card issued to a member or supporter, and 20p commission for every £100 spent on the card.
A club that signs up 500 cardholders is expected to receive between £2,000 and £3,000 in commission a year. About 200 clubs are being invited to take part in the scheme.
The card has no annual fee. People who transfer balances will pay 3.9 per cent APR for the first five months, although the interest rate for purchases is 17.9 per cent APR.
James Corcoran, managing director of Halifax Card Services, says: “Affinity cards have traditionally been set up in partnership with a sport’s governing body but this approach gives clubs, particularly at grass-roots level, an opportunity to reap the rewards of their own efforts.”
The card has been set up with Rugby Round-Up, an organisation which helps clubs generate money from supporters.
Mike Kind, chairman of the organisation, says: “Cardholders get a competitive card and clubs receive much-needed finance that is paid out purely on results, not shared out according to status. Small clubs have the opportunity to make as much as their larger counterparts.”