New Credit Card Will Reward Shopping at Women-Owned Businesses

Seneca Women, an organization that characterizes itself as "a global leadership platform and media company centered on the principle that advancing women and girls will fast forward us to a more equitable and prosperous world," has announced a new credit card, The Card by Seneca Women. Developed in a partnership with Deserve and Mastercard, the card will offer cash-back rewards when consumers use it to shop at women-owned businesses through the Seneca Women Marketplace. It is slated for release this spring.

A Credit Card Intended to Empower Women

In a 2019 study by American Express, women-owned businesses made up 42% of all businesses in the U.S., with nearly 13 million in total. They employed 9.4 million workers and generated revenue of $1.9 trillion. 

To highlight the importance of these businesses and encourage more support for them, The Card by Seneca Women offers 3% cash back when you use it to shop at women-owned businesses in the organization's Marketplace, which it says includes more than 1 million businesses in all. If you know of a women-owned business that's not in the Marketplace, you can nominate it for inclusion. 

In addition to the 3% rewards rate, the card also offers 2% cash back on your top monthly spending category and 1% back on all other purchases. 

The organization's website doesn't spell out any additional card benefits but does note that it will be compatible with Apple Pay for convenient spending.

Seneca Women also hasn't disclosed all of the card's redemption options, though it mentions the option to donate your cash rewards to nonprofit organizations in the Women's Economic Future Fund.

If you're interested in learning more about the card or applying once it becomes available, you can join the waitlist at the organization's website.