Most people have good intentions with regard to donating to charity organizations, of which there are many.
Whatever the cause, be it wildlife conservation, cancer research, organizations that care for the elderly or care for abused children, these organizations need a lot of money to keep going and depend on donations.
Charity Credit Cards – How do They Work?
Charity credit cards aim to have the same features of traditional cards, such as a competitive interest rate while providing benefits to a charity of choice.
Typically they offer to make a fixed donation when the account is first opened (around $10 or $20 in the US or £5 or £6 in the UK).
There is usually a donation made on a regular basis which is worked out as a percentage of purchases made on the card. This is made by the bank or lender issuing the card (around 25c per $100 US or 25p – 40p per £100 spent UK).
Some banks will match donations and some will pay an ongoing amount for each year the card is in use. (around £2 per annum, UK).
For most charity credit cards, the terms and conditions of use are the same as any other credit card. This includes billing cycles and penalties for late payments.
Using a credit card finder can help to sift through all the cards choices available, as picking the right card, finding special offers and choosing the right cause can be a little confusing. Also, there are a large number of financial institutions making offers of this kind.
What Charities can be Donated to?
There are many charity credit card special offers available. Comparing the options online will give the applicant a good idea of what lenders are offering.
The following charities are just a few of the causes an applicant can consider being affiliated with:
- The WWF promotes wildlife conservation education and programs all over the world.
- The Kiva organization offers micro-financing loans to entrepreneurs in developing countries.
- Breakthrough Breast Cancer promotes breast health, education, research and support for breast cancer.
The Make-A-Wish Credit Card is affiliated with the Make A Wish Foundation, which grants wishes to children with life threatening medical problems. Every time a dollar is spent, a donation is made to the Make A Wish foundation.
In order to maximize the benefits to the charity, use the card for as many purchases as possible during the month. Be careful to pay it off each month so that interest charges will not be incurred.