What is a co-branded card and why do you need it.

Bank cards have a range of advantages. They come in various types. For example, a co-branded card. This is a card issued by a bank in collaboration with a certain company. In general, a co-branded card is both a regular bank card and a loyalty program with certain conditions. Therefore, understanding what it is and why it's needed is best done case by case. 

Speaking of what a co-branded card is, the loyalty system is tied to the partner (company). Based on this, it is quite a convenient and universal system. Overall, co-branded cards are popular due to the additional benefits they provide to holders.

What are co-branded cards? 

We need to start with what co-branded cards are. They have their own features. Here's what it's about: 

1. The card usually displays 2 brands. The logos of the bank and the partner company are shown on the card.

2. The card also provides certain privileges from the partner (company). The card offers bonuses, discounts, or cashback when shopping at the partner company.

3. The card has its standard functionality, which all bank cards have. This card is used for cash withdrawals, and for buying goods and services like a regular bank card.

This type of card has its purpose. But usually, it has a range of advantages: 

1. You can save when shopping. This refers to receiving discounts or bonuses in partner stores.

2. Clients also participate in the loyalty program. This involves accumulating points for purchases, which can be used to pay for goods or services.

3. This card has its convenience for making various payments. It can be used as a regular payment means.

This kind of card also has its additional benefits. This includes access to exclusive offers, such as free shipping or increased cashback.

What co-branded cards are available in Ukraine?

Many banks in Ukraine occasionally issue such cards. Some of them are more popular, while others have a short validity period. Co-branded cards in Ukraine are issued in collaboration with various companies: stores, airlines, gas stations, and others.

A few examples: 

1. Cards from airlines. For example, partners: UIA, Wizz Air, and others. Advantages of such companies: accumulating miles for flights and purchases, redeeming miles for tickets and services.

2. Cards in collaboration with supermarkets. Partners: Silpo or ATB. Advantages: discounts on products, bonus points for purchases.

3. Cards from gas stations. Partners: WOG, OKKO. Advantages: discounts on fuel, accumulating bonuses for refueling.

A few words should be said about how to apply for a co-branded card:

1. First, you need to choose a partner program. Review the offers from banks and select a card that suits your interests.

2. Then you can go to the bank. Submit an application on the bank's website or at the branch.

3. Next, you can confirm your identity. For this, provide your passport and tax ID.

4. Finally, you can receive the card. Activate the card and start using it for purchases.

Such cards have their advantages. What is so special about them: 

1. Savings on purchases at a partner.

2. Access to exclusive offers.

3. The possibility of accumulating bonuses and using them.

However, such cards also have their disadvantages. What is it about: 

1. Limitations on the use of bonuses.

2. Possible additional fees.

3. The need to consider the conditions of the partner program.

Therefore, such cards may not suit everyone, which should be taken into account. However, in some cases, they can be useful. 

What problems may arise with such a card? 

Such cards are not that popular, but they are very useful. However, many clients have questions about how to use such cards correctly: 

1. Can a co-branded card be used in other stores? In reality, such a card works like a regular bank card, but bonuses are accrued only for purchases at the partner. That is, it can be used like a regular card in most cases. 

2. Is there an annual service fee? This depends on the conditions of the bank that issues the card. Thus, all conditions for using such cards directly depend on the bank. 

3. How to find out about bonuses and discounts? Information is available on the bank or partner company's website. In general, all information should be learned in advance, before obtaining the card. 

In general, co-branded cards are a convenient tool for saving money and participating in loyalty programs. When choosing a card, it is important to consider your needs and carefully study the bank and partner's conditions. In 2024, such cards remain a relevant financial product for Ukrainians who want to get more benefits from their purchases.

Such a card is available to all clients, but with certain conditions. Therefore, all conditions should be checked in advance to understand how and where the card can be used.