New Credit Card Will Reward Shopping at Women-Owned Businesses

You can join the waitlist for the card by Seneca Women and Deserve

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.

Key Takeaways

  • The Card by Seneca Women is designed to give consumers an incentive to shop at businesses owned by women.
  • It will offer 3% cash back when cardholders shop at women-owned businesses in the Seneca Women Marketplace.
  • Though it's not yet available for applications, the card has a waitlist that interested consumers can join on the Seneca Women website.

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

Article Sources

Investopedia requires writers to use primary sources to support their work. These include white papers, government data, original reporting, and interviews with industry experts. We also reference original research from other reputable publishers where appropriate. You can learn more about the standards we follow in producing accurate, unbiased content in our editorial policy.
  1. Cision PR Newswire. "Seneca Women, Mastercard and Deserve Launch Credit Card to Advance Women in the Economy." Accessed May 27, 2021.

  2. American Express. "Woman-Owned Businesses Are Growing 2X Faster on Average Than All Businesses Nationwide." Accessed May 27, 2021.

Take the Next Step to Invest
×
The offers that appear in this table are from partnerships from which Investopedia receives compensation. This compensation may impact how and where listings appear. Investopedia does not include all offers available in the marketplace.
Service
Name
Description