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Consumers’ consciences are increasingly catching up with them, as more and more people are opting for credit cards that give to charity when they use them
Last week saw one of the world’s leading credit card companies, American Express, urge credit card holders to spend whilst "having a conscience." As part of National Giving week, which ran from the 16-22 October 2006, American Express has been promoting its RED card. The RED series, created by U2 frontman, Bono, and Chairman of DATA (Debt AIDS Trade Africa), Bobby Shriver, was established to raise awareness and money for The Global Fund by teaming up with some of the world’s most iconic brands in order to produce (PRODUCT) RED. A percentage of each product sold is donated to The Global Fund, and the money is geared towards helping women and children affected by HIV/AIDS in Africa.
The American Express RED card aims to give 1% of your total spend to the Global Fund to help fight AIDS in Africa; furthermore, if your total spend exceeds 5000, the sum donated increases to 1.25%. Over the last year, the power of (PRODUCT) RED has been confirmed as many other banks have set up similar credit cards; Barclays Charity Card, for example, offers very similar terms to the RED card, while also donating an initial 5 once you join. Many charity credit cards also donate to a range of charities, not just the Global Fund; for example, Cancer Care, Marie Curie, Save the Children and Samaritans all benefit from such donation schemes.
The profile of charity credit cards has risen dramatically over 2006, with more and more people opting to choose credit cards that will donate to charity on their behalf every time they spend. Research carried out by American Express shows that the number of "conscience consumers" in society has been steadily increasing, with an estimated one in three people looking to use the "power of the pocket" to donate to charity and make a difference. Kate Harris, vice president of UK partnerships from American Express, commented:
"This research shows that many credit card holders still aren’t getting anything back for their spending, but by making a small change to their wallet, they could collectively make a big difference to good causes."
So, if you’re looking to update your regular credit card to a charity credit card, there are a variety of different options available to you, depending on the type of charity you’d like to give to and the amount of money you’d like to donate every month. Generally speaking, charity credit cards would suit you best if you have a good credit history, are over 21 and not a student, have a regular income, and you have a permanent UK address. However, if for any reason you don’t qualify for a charity credit – for example, if you don’t have good credit history – then rest assured that projects like (RED) will always find another way for you to donate to charity while you spend.
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