A Truly "Green" Credit Card Hits The Market
Credit card issuers have marketed their cards to specific target audiences for years. Frequent fliers, bookworms, NFL fans, home fixer-uppers, students, travelers, NASCAR fans….and now, people concerned about climate change.
Today, a biodegradable MasterCard that helps combat climate change hit the market. Sustain:Green allows cardholders to eliminate two pounds of carbon for every $1 spent. In addition, on the first swipe, an extra 5,000 pounds of carbon dioxide is eliminated. Carbon offsets are rewarded to Sustain:Green users help fund Mata no Peito rainforest preservation projects in Brazil.
The Sustain:Green MasterCard is issued by Commerce Bank.
The card has no annual fee, and an introductory APR of 1.99% on both purchases and balance transfers for six months. After that introductory period, the card has an ongoing APR between 12.24% and 18.24%.
Sustain:Green works with the non-profit American Carbon Registry for transparent accounting and tracking of carbon offsets in this program. Cardholders are given a carbon calculator to figure out their own carbon footprint as well as a tool to monitor how they are doing to help reduce their footprint.
“Just by using our card for purchases they would make anyway, consumers can shrink their carbon footprint for free, everyday, while also helping to preserve rainforests critical to combating climate change,” Arthur Newman, Co-Founder and CEO of Sustain:Green, said in a statement.