Celebrity credit cards show you're a fan -- for a price
By Lucy Lazarony • Bankrate.com

You know who you are. Die-hard doesn't begin to describe you. When it comes to a certain celebrity, you're an all-out, my-friends-think-I'm-crazy-but-I-can't-help-it FAN.

Now your credit card can say so.

Ol' Blue Eyes, the tongue of KISS star Gene Simmons, the rippling biceps of "Hollywood" Hulk Hogan -- all adorn credit cards these days.

"If that's something of value to them and it gives them a kick, why not?" says Nancy Deevers, director of education at Consumer Credit Counseling Service of Northeastern Ohio.

While celebrity credit cards may not be the best financial deal around, they come with plenty of fan-friendly perks such as newsletters, discounts and sweepstakes. They look cool, too.

"We've all made decisions we can't rationalize," Deevers says. "Let the credit card user have some fun -- as long as it's an informed choice."

No faking -- pro wrestling cards are for real
World Championship Wrestling fans can choose from l2 different cards from Capital One. The cards boast autographed photos of wrestlers such as Hulk Hogan, Bill Goldberg and Sting, and there's a card for the dancing Nitro Girls, too. There are plenty of financial choices, too, depending on the fan's credit -- the cards are available from secured to platinum rates.

"There's wrestling fans making $15,000 a year, college students spending their last dollar and people driving BMWs and Mercedes to matches," says Mike Weber, marketing director for WCW.

Rates vary, too, from the gentle tap of 10.9 percent to a body-slamming 19.8 percent.

Cardholders receive quarterly newsletters and 10 percent discounts on WCW catalog merchandise such as action figures, caps and T-shirts. Fans also earn an entry into a WCW sweepstakes each time they use the card. The grand prize? Four backstage passes to a pay-per-view wrestling event.

The WCW cards were launched in October, with WCW wrestlers descending on the New York Stock Exchange. Wrestling fans swarmed the joint.

"There were people camped out the night before," says Dana Farmen, a spokeswoman for Capital One. "We had 10,000 people line up (for autographs) ... It was absolutely incredible. Wrestling fans are very passionate people. They wanted to be part of it."

KISS cardholders get high-decibel perks
Music fans are just as fervent. A credit card is one more way for a fan to show loyalty, get some inside information and snag a few perks.

Holders of the KISS Platinum Visa from First USA get the inside scoop on the shock rockers from monthly news updates straight from the band. They also receive a free copy of "The Second Coming," a documentary video of the band's Alive Worldwide tour.

KISS Visa cardholders are also eligible for discounts on KISS dolls and other band merchandise. The KISS card comes in four designs: three cards feature band members in full stage makeup and two boast Simmons' outstretched tongue.

People who like their music to swing, not shock, should check out the Sinatra MasterCard from MBNA. The card features Ol' Blue Eyes crooning into a microphone and boasts a rewards program.

Frank fans earn one point for each dollar they spend with the card. The points can be redeemed for Sinatra collectibles, including photos, videos, compact discs and even neckties designed by the late singer. Fans are awarded 500 points for signing up for the card.

Gold, platinum go with steel guitars
For country music fans, the Cool Country Visa from SunTrust is all about connecting with their favorite artist. Reba McEntire, Alan Jackson and Billy Ray Cyrus are among the 11 artists given top billing on their own cards.

"The fans think of an artist not as an icon but as a member of their family," says David Stroud, senior vice president in charge of bankcard marketing at SunTrust.

Brian Williams, senior vice president at SunTrust in Nashville, adds, "People who are fans of Reba McEntire and carry her card probably feel like they're related to Reba, that they are part of her family."

Fandom's financial consequences
Die-hard fans may be tempted to sign up for these cards simply because they want them. That's fine, consumer experts say, as long as they weigh the financial consequences:

• Fans may be able to get a better financial deal -- from cash-back rewards to lower interest rates -- with a plain, old celebrity-free credit card. Granted, it won't start conversations like the KISS card, but it may be better for a person's bottom line.
• Remember to keep a rein on all those credit lines. Consolidate other credit cards and close off another account to make room for Hogan's card to muscle its way in. Bankrate.com can help you with the basics of wise credit use.
• Rates on these cards tend to be competitive but hardly rock-bottom, so it's a good idea to pay off the monthly balance on the Reba card to avoid crying in your beer.

"Use it on a pay-as-you-go basis," says Paul Richard, director of education at the National Center for Financial Education. "When you make a purchase on any credit card write it in your checkbook register just as though you had written a check. Deduct the money from the balance and the money will be there at the end of the month."

Still want a celebrity card? Willing to pay a little more to have one? Go for it.

"It's a want. It's kind of cool," Deevers says. "Whatever makes you happy."

-- Posted: April 26, 1999