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A report by the Co-operative Bank has revealed that charity credit cards are gaining popularity with socially responsible consumers in the United Kingdom. Charity credit cards operate on the basis that a proportion of the profits generated through their use is donated to charity organization. These credit cards, also known as affinity credit cards, provide an excellent means of supporting a cause or organization that you believe in – whether it is your local football team or a charity working to combat AIDS in Africa.
Affinity credit cards are offered by a number of credit card providers. Here are a few details about the most popular charity credit cards.
- The American Express Red Card is perhaps one of the niftiest credit cards around. The card combines great style with excellent value; the annual interest rate of 12.9% is one of the most competitive on the market. American Express donates part of the profits made through this card to the Global Fund, an organization helping women and children with HIV/AIDS in Africa. 1.29% of total expenditure made using the card is donated to the charity.
- Another charity credit card which supports an excellent cause is that offered by the NSPCC. The card provider, Halifax, donates £10 to the NSPCC every time one such card is taken out. The card provider must donate 0.25% of all expenditure made on the card to the charity. With 0% on balance transfers for up to 9 months and annual interest rates at a very competitive 12.9%, this is easily one of the best charity credit cards around.
- The RSPCA Credit Card is another excellent charity card. The RSPCA receives a donation of £15 every time someone takes out one of these cards. The benefits to the RSPCA extend further. The charity receives a donation of 25p for every £100 spent and an extra pound for every year that the card is in use. From the perspective of improving your personal finances, the card is ideal. It offers an interest rate of 0% on balance transfers for the first five months. The standard annual interest rate is a competitive 14.9%.
- The Cancer Research UK Credit Card offers the consumer excellent value for money. Halifax donates £20 to the charity each time a new card is taken out and a further 25p for every £100 spent on the card. The card-holder receives an interest-free period of 9 months on balance transfers and interest rates are an extremely competitive 12.9%.
Charity credit cards provide a simple means of contributing to excellent causes. Given that they generally also offer excellent value for money, they might be the perfect option for first-time card-holders or those struggling with debt.
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