Shopping, meals and holidays are just some of the items we put on our credit cards. But credit card spending does not have to be selfish. Credit card holders can use their credit cards to support worthwhile causes such as charities. There are several ways of doing this. Credit card owners can donate to different charities using their credit cards or they can choose a charity credit card to give their chosen charity a donation every time they spend.
How Charity Cards Work
Most charity cards donate in two ways. The first is a lump sum donation given to a charity when someone first takes out a charity card. Additional lump sums may be donated if people keep the card or continue to spend on the credit card.
The second method is to donate a percentage of the money spent by the cardholder to the chosen charity. This can range from 0.25% to 1% of the amount spent, depending on the deal and the card chosen.
Giving To Cancer Charities
Cancer is a major killer in industrialised nations and so it is hardly surprising that a number of charities have launched their own credit cards to help their charity efforts. Many of these are supported by large banks.
Cancer Research UK is the UK's largest cancer charity. The organisation's credit card is supported by Halifax and works like other Halifax cards. There is no annual fee and the card offers a low balance transfer fee for six months. Halifax donates 0.25% of money spent on the card to Cancer Research UK.
Another cancer charity has raised £1,000,000 with its charity card. The Breakthrough Breast Cancer Charity Card is sponsored by MBNA. The purchase donation is the same as that offered by the Cancer Research credit card. However, MBNA also offers an additional donation for online applications.
Other Ways Of Giving To Charity
Charity credit cards work well for those who spend regularly on their credit cards. A donation rate of 0.25% means that 25 pence of every £100 spent goes to the charity. Some people may find that donating the proceeds of a cash back credit card (which gives more than 0.5% of annual spending in a lump sum each year) may be another good way to help a charity.
Shopping Around
As with other credit cards it is worth looking around for the best credit card deals for charity cards. Many charity cards offer 0% balance transfer rates and purchase rates for fixed periods. Some offer low standard interest rates as well.
There are many websites that offer comparisons of credit cards and charity credit cards. The sites look at balance transfer and purchase rates, introductory offers, standard interest rates and other incentives for credit card buyers. Shopping around allows people to get the best deal for themselves and still contribute to a good cause. Joe Kenny writes for CardGuide.co.uk, with the latest 0% balance transfers, and more credit info in the credit card guide.
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