Credit Cards That Save The World

Ninemsn.com.au               
Warning, warning, warning; Credit cards with their extremely high interest, 30,000 plus word terms and conditions to sign and myriad of fees are supposedly giving back to society. An article in Money magazine this month gives a rundown on a list of credit cards which will donate a portion of each sale to good causes. These include, but are not limited to:

South Australian native flora and fauna
Carbon offsets to help the environment
The McGrath Foundation

Programs helping young people in local communities who care for a parent or a sibling with an illness or disability

Australian Cancer Research Foundation
Medecins Sans Frontieres Australia
Youth Off The Streets

While all these charities are a good thing and donating to them is a great idea, there are much smarter ways to do it than using a credit card. For example, the McGrath Pink Visa donates half of the annual fee to the McGrath Foundation each year. A good thing you would think.

However, if you paid all your interest over the course of the year, the other half of the annual fee and any fees or charges would go straight to the McGrath Foundation. Your donation would pale in comparison to what they would get from you had you signed up to the card which saves the world.

What we are trying to say is, if you want to donate to charities, get rid of your credit card and use a portion of your savings (and there will be savings believe me) to donate. We don’t want to live in a world where people only keep a credit card just to feel good; it doesn’t make sense.
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