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Ex-senator and top GOP operatives launch 'conservative' credit card alternative

Washington Examiner logo Washington Examiner 4/26/2022 David M. Drucker
Former Sen. Cory Gardner, a Colorado Republican, is on the advisory team of a new credit card company marketing itself to grassroots conservatives. © (Andrew Harrer/Bloomberg) Former Sen. Cory Gardner, a Colorado Republican, is on the advisory team of a new credit card company marketing itself to grassroots conservatives.

Top Republican operatives and a former GOP senator are behind a new Visa credit card catering to conservative consumers with plans to funnel a portion of its profits to right-of-center causes.

Coign, pronounced “coin,” is launching Tuesday under the stewardship of Rob Collins, a Republican lobbyist and former executive director of the National Republican Senatorial Committee. Collins is joined by an advisory team that includes former Sen. Cory Gardner of Colorado; GOP strategist Chris Hansen, also a former NRSC executive director who is advising Pennsylvania Senate contender Mehmet Oz this cycle; plus unnamed financial backers — among them at least one billionaire family steeped in conservative politics.

To lure customers, Coign is being made available for zero membership fees and offering 1% cash back on all purchases. But this new Visa credit card intends to stand out in a competitive marketplace by contributing a percentage of its profits from merchant fees to conservative causes and organizations. Donation recipients will be selected by a vote of Coign cardholders from a list of options curated by company executives.

“Coign will let conservatives voice their priorities through charitable donations they get to pick, all while offering world-class customer service, consumer protections, and cash back on every transaction,” Collins said in a statement shared with the Washington Examiner. Collins is a former adviser to Republican Eric Cantor, a former House majority leader who is now vice president and managing director at boutique investment firm Moelis & Company.

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Collins’s advisory team at Coign includes Matt Lira, who previously served in the White House under former President Donald Trump and whose resume features stints with the NRSC, with Cantor when he was House majority leader, and with House Minority Leader Kevin McCarthy during his time as House majority leader.

The launch of Coign comes amid rising conservative angst regarding prominent corporations and consumer brands that publicly advocate liberal policies or donate to left-of-center causes and groups. This issue has dominated headlines recently, with grassroots Republicans lauding Florida Gov. Ron DeSantis for gutting a tax break benefiting Disney after the entertainment giant vocally opposed a new state law that severely limits how teachers discuss gender identity and sexual orientation in public schools.

Backed by a bank headquartered in the Midwest, Coign aims to capitalize on this frustration.

The credit card is marketing itself as an alternative for consumers who are tired of watching the profits from their patronage land with liberal groups that are antithetical, if not outright hostile, to their conservative values. On Coign’s website, the firm describes its product as “America’s first credit card for Conservatives.” Collectively, the 10 largest credit card companies are among the firms that have donated to liberal groups, GOP operatives involved with Coign say.

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“Too many corporations are investing their customers’ money in political and social priorities that align with their executives, the media, and the Left’s agenda,” Collins said in a statement. “For the first time, the Coign card will allow conservatives to ‘Spend Right’ no matter where they shop.”

 

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Tags: News, Campaigns, Midterms 2022, Cory Gardner, Donald Trump, Ron DeSantis

Original Author: David M. Drucker

Original Location: Ex-senator and top GOP operatives launch 'conservative' credit card alternative

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