| Charity
Credit Cards
In recent years a number of charities, along with other financial
institutions such as banks, have been quick to spot the money
making potential of credit cards. Nowadays most major charities
offer a credit card affiliated to a particular bank.
Charity credit cards allow cardholders to help raise money for
their favourite charity and also help financial needs by offering
competitive rates and benefits. With each transaction the card
is used for, the bank pays a donation to the affiliated charity.
Anyone wanting to take out a credit card that supports a charity
can choose from a wide variety of cards. One such example is the
Macmillan Card - issued with the Bank of Scotland, which has raised
considerable sums of money for scientific research and patient
care.
It is worth checking out the APR that the various cards offer.
You may find that they are higher than those offered by high-street
banks however it does differ between cards. Like all credit cards
there is plenty of variation in benefits and incentives offered,
as well as in the basic lending rate.
Consumers who choose a charity credit card should look at the
interest rate. In some circumstances it may be more cost effective
to send a chosen charity some money each month rather than donating
it by using a charity credit card.
Some of the charities, which are working with financial institutions
and offer credit cards, include the Dogs Trust, Mencap, Bardardo’s,
Breakthrough Breast Cancer, Great Ormond Street and Diabetes.
Are you looking for general advice or other information
regarding Home Insurance? You may wish to consult our advice
guide.
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Applying for Credit Cards
Caution: Remember that every credit card application you make
will result in a credit search being conducted. We do not advise
you to apply for more than one credit card at a time. If your
application is declined, we would suggest waiting at least three
months before applying for a different card.
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