Charity cards are similar to generic credit cards. Major UK banks fund these credit cards. Charity and generic credit cards offer competitive incentives. When using their card, charity cards may offer exclusive shopping discounts. Charity credit cards help you make a difference, without opening your wallet, except to fetch your charity credit card.
Common ingredients of generic credit cards also apply to charity credit cards. This includes balance transfers. When making transfers, be aware that your charity might not receive the contribution. Most card issuers apply payments to old balances before newer purchases. The charity gets donations after transfers are paid.
Competitive introductory APRs convert to standard interest rates. Standard rates range from under 9% to 17% or more applying to both generic and charity credit cards. Penalties, fees and credit reporting rules are equal.
Donation funding comes from interest paid by card users. Cardholders paying total monthly balances avoid interest charges. Per agreement, issuers make donation payments with or without interest income.
People wishing to support charities could consider using charity credit cards - without any requirements to increase spending. Compare cards to determine who benefits and how much they receive. Socially conscious people find charity credit cards convenient and rewarding.