my care2
make a difference

community & fun

shares

share your passions, stories, inspirations, and more

Caution: Excessive Use of Aerosol!
Nov 12, 2007
My credit union recently produced a couple commercials that have been getting a lot of buzz. Vancity has always been an environmentally friendly company, and I've had the Enviro Visa for almost ten years now. I have the option of donating my rewards points to local green projects whenever I want.

One commercial pokes fun at how some people get the Enviro Visa and think they're doing the environment a favor while carelessly overconsuming un-green friendly products.

"Vancity Enviro Visa -- For people with good intentions."

View the ad here.

~I'm Linda Bustos. I blog about credit cards and other topics.
(0) | () | | send green star | flag as inappropriate
Visibility: Everyone
Tags: , , ,
Posted: Nov 12, 2007 8:45pm
Green Pay Credit Card is Al Gore Approved
Nov 12, 2007
The Fintura Corporation in conjunction with MetaBank offers the GreenPay MasterCard credit card program for environmentally conscious consumers and businesses.

The goal is to reduce CO2 emissions or the "carbon footprint" left from our everyday activities (greenhouse gases produced from burning fossil fuel and indirectly by the breakdown of everyday products.) The average US household of 4 produces over 35 thousand pounds of C02 each year.  "Carbon offsetting" refers to compensating for dangerous C02 emissions with an opposite carbon dioxide savings.  This involves calculating your carbon footprint and purchasing carbon offset credits from emission reduction projects.

The Green Pay credit card applies your reward points toward approved offset initiatives including agricultural, landfill, coal mine methane and forestry projects. Depending on what you buy, you can offset your personal carbon footprint by 5 to 10 lbs per dollar spent.

The irony is that gasoline purchases earn you the most credits.  So the more gas you consume, the more credits you earn.  Is there something wrong with this picture?  

Recent Nobel Prize winner Al Gore gave the credit card a nod on his blog earlier this year.

~Linda Bustos is a blogger for Creditor Web, where you can apply online for credit cards and conserve paper.
(0) | () | | send green star | flag as inappropriate
Visibility: Everyone
Tags: , , , , , , , , , , , , , ,
Posted: Nov 12, 2007 8:42pm
UK Credit Card Rewards "Eco-Consumerism"
Nov 3, 2007
In the UK, the Co-Operative bank launched the "Think Card," a credit card that offers a reduced interest rate for "ethical purchases" from 16 ethical partner merchants including Lush, Ikea and Adili.com, Raleigh bikes and public transit purchased through thetrainline.com and Arriva.

A rate of 7% for purchases at participating stores will be applied for 6 months, rather than the card's regular rate of 14%.

New cardholders will receive discounts from Ecotricity (a green energy supplier), Ecofirst and Nigel's Eco Store.

Co-operative will also pledge to protect half an acre of rainforest in the name of every new customer who uses the card at least once, and donate 25p for every £100 spent to the rainforest charity Cool Earth.

Rob Harrison of the Ethical Consumer Research Association praises the move toward ethical spending. "By buying Think-approved products, all of which are at the forefront of responsible corporate behaviour, you can not only lend your support to ethically progressive companies, but also put pressure on those that are lagging behind," he said.

~Linda Bustos is an Editor for Creditorweb, where you can learn about credit cards and debt management.
(0) | () | | send green star | flag as inappropriate
Visibility: Everyone
Tags: , , , , , ,
Posted: Nov 3, 2007 5:31pm
Affinity Credit Cards: Do They Really Benefit Charity?
Aug 26, 2007
Socially and environmentally conscious consumers can show their support for the causes they care about by choosing an affinity credit card.  This type of credit card donates money for every dollar spent with the affinity credit card and bears the logo of both the credit issuer and the charity.

Although one might feel like a do-gooder by participating in a charity credit card program -- the reality is that the donations in comparison to the amount of interest charges one might incur can be a very miniscule amount.  With average donation percentages at 0.05% (that's right, a whopping 50 cents for a hundred dollar purchase) - affinity credit cards are kind of a joke.  Why not forego that new jean jacket and send the full $100 to the charity of your choice?  If you only spend about $100 per month on your credit card, that 50 cents per month adds up to a big fat non-tax deductible $6, which could be only a quarter of what you pay for the privilege of owning an affinity credit card - the $25 to $50 annual fee.

If your credit card spending behavior is such that you use your credit card often and pay off at the end of each month faithfully, your contributions through the charity credit card program may be significant - but keep in mind that you may be better off sending checks directly to the charity so you can enjoy tax-deduction - and that the charity can use the lump sum more efficiently than a couple dollars here and there.

The irony is that not all credit card companies themselves have a history of ethical practices. When choosing an affinity credit card, you may want to keep in mind the reputation of the issuer. For example, the Co-operative Bank in the UK has a much better record than the Royal Bank of Scotland or HSBC.

In response to the environmental side effects of producing such credit cards, the Co-operative Bank in the UK is addressing this issue by researching alternatives to PVC for credit cards and debit cards. The goal is to engineer a biodegradable plastic known as polyethylene teraphthalate which is free from toxic chemicals.

One of the US' more successful charity credit card programs include Target's Take Charge of Education card, which has donated over $19 million in student scholarships.  Cardholders can select the school to which their 1% donations will benefit, making it a favorite amongst families of children aged 5-18.

If you do decide to use an affinity credit card, here are some tips for making your choice:

    * Check the APR % and annual fees. If you make payments each month and don't carry a balance, you don't need to worry about the high APR, but you also don't need to pay an annual fee which is essentially interest in itself.

    * Find out what % of purchases will be donated to your charity.

    * Find out if the donations are made on all purchases, cash advances and balance transfers, or only certain transaction types.

    * Make sure the card does not charge interest from day of purchase. Grace periods are your friend!

This article is courtesy of CreditorWeb, where you can learn about credit cards and debt reduction.
(0) | () | | send green star | flag as inappropriate
Visibility: Everyone
Tags: , , , , , ,
Posted: Aug 26, 2007 10:07am

 
 
 
Content and comments expressed here are the opinions of Care2 users and not necessarily that of Care2.com or its affiliates.

Author

Linda Bustos
female, age 28,
Canada
Shares by Type:
All (9) | Blog (7) | Alert (1) | Top 10 List (1)

Showing shares tagged with: credit [show all]
ads keep care2 free
SHARES FROM LINDA'S NETWORK
No shares

Copyright © 2009 Care2.com, inc. and its licensors. All rights reserved