Saving the Planet with Credit Cards
In some of our recent articles we have looked at saving methods you can employ with credit cards for your own benefit. In this article we want to point out a way that you could help the environment or someone else. While credit cards offering rewards are not the best thing to have there is a new product on the market that might be just what you are looking for in the rewards department.
Many credit card companies are offering charity cards, campaign cards, and ethical organisation cards. Basically how the cards work is that you use the card to make a purchase and the company you are with is going to pay a percentage to the charity of your choice or the card charity you have elected to obtain. The money donated is not from your pocket. It is from the company offering the card.
The charity cards in the UK are mostly through MBNA. They are offering a percentage of their income to the charities. It is not a lot per pound that you spend, but it adds up with the many consumers they have for the cards and when you spend a bit on the card. Most of the cards offer 1 pound to charity for every 25 pounds you spend.
There are two ways you can use this card. One of those ways is going to get you into trouble. For example if you use the card for unnecessary purchases just to help out the charity you might as well send the money directly to the charity you are trying to help. On the other hand if you use the card wisely MBNA could be paying a great deal of money to the charities on your behalf.
To use the card wisely you need to make purchases that are necessary and that you can pay off every month. As long as the balance on the card is paid off every month you are not going to be charged interest, but the charitable donation will still go to the charity.
For example say you use the card for your mortgage payment, utility bills, and groceries. You should have the money for these bills from your salary. All you have to do is send the money to the credit card rather than the company that the bill belongs to. In this way you donate as well as save yourself the interest payments.
There are numerous charity cards out there. Some help kids in Africa get glasses, medical attention or aids vaccines. Others will be a charity card for your local town where the donations help fix the roads, or help families in your area that are struggling.
The best thing about the charity cards is that the credit card company is paying the donation, so you are spending normally and helping out others. The rewards are definitely worth the card when you use it right. Some cards even offer other rewards for the donations you make.
Credit Card Updates June 2008
5 Savings Tips for Credit Cards
Before Taking on a Credit Card
Card Protection System Foiled
Debt and Credit Cards
Early Warning System for Credit Cards?
Credit Card Identity Theft Tips
Photo Identification on Credit Cards
Refunding Money: Credit Cards
Saving Money When You Have a Credit Card
Saving the Planet with Credit Cards |
