"Green" Credit Cards Are Silly

Bankrate has an article about co-called “green” credit cards that donate a portion of your purchase to environmentally friendly causes. Why are we saying they’re silly?

From Bankrate:

If you want to save the whales, offset CO2 emissions or contribute to another “green” cause, it is now as simple as swipe and sign.

Environmentally friendly credit cards are affinity cards issued by a credit card company. The card issuer donates a portion of your purchases (typically 1 percent through a rewards program) to a green cause. Sometimes the consumer gets to choose the specific cause, but most often the funds go to a general fund from which contributions are made to a variety of causes of the affiliate company’s choosing.

We tend to disagree. Saving the whales isn’t as easy as “swipe and sign.” If you want to give money to environmental causes, sign up for a cash back card and cut the charity a check from the proceeds. It’s tax deductible, and you get to decide where your money goes.

The greening of credit cards [Bankrate]