Eco Friendly Credit Cards

An opportunity to be friendly to the environment while going shopping. Green Credit Cards fall into two categories at present.

• Dedicated cards that give some percentage of sales to a carbon offset company or to an organization that is dedicated to preserving the environment.
• General Rewards cards that have added 'Eco' rewards. Instead of an iPod you can trade points for carbon offsets.

Of course it is kind of odd when you think about it. Part of beng friendlier to the planet is to reduce your consumption. These cards make it seem like spending more will help you save the planet. If you use your cards responsibly and don't spend more because it eases your guilt you can really make a difference. Below is a summary of the cards that are out there and with some anaysis if the benefits of each.

Brighter Planet by Bank of America is a dedicateed environmental card. The card does one thing with the point you earn. They use then to fund projects that wil fund renewable energy projects. Here how it works.
* Earn 1 EarthSmart point for every $1 spent in net retail purchases.
* Points are automatically redeemed monthly to help fund renewable energy projects.
* Every 1,000 points will fund an estimated 1 ton of carbon offsets.
* Every 1,000 points is roughly equivalent to taking a car off the road for 2,000 miles, or powering and heating/cooling your home for a month.

G.E.'s Money Earth Rewards Platinum MasterCard allows customers to designate up to 1 percent of their total yearly purchases to buy carbon offsets to fund projects that reduce greenhouse gas emissions. The only way to apply for the card is online, which saves paper. According to G.E., if 100,000 cardholders charge $750 to the card each month, the carbon offsets purchased would save 1 million metric tons, or what 175,000 cars produce in the U.S. in one year.

GreenPay Mastercard. Consumers automatically earn a new account activation bonus equivalent to 10,000 pounds of CO2 offsets, the average annual CO2 emission of a car in the U.S., according to Fintura, when they make their first purchase. For every dollar spent using the GreenPay MasterCard credit card will reduce five pounds of CO2, according to Fintura. For every dollar spent on gasoline and household utilities, 10 pounds of CO2 will be offset. CO2 reductions are independently certified

Salmon Nation Visa Card
Provided by eco-friendly lending institution Shorebank Pacific, the Salmon Nation Visa Card offers eco-bang for the buck. Half of the income generated for Shorebank from the card goes to "Salmon Nation" an economic, cultural and ecological community collective in the bioregion that contains Pacific salmon spawning grounds.

Regular Credit Cards with Rewards

Bank of America offers WorldPoints that can de exchanged to environmental merchandise or donate points to groups that invest in greenhouse gas reduction. Example include 2.5 tons of Carbon offsets for 2,500 points, Bamboo cutting boards for 3,700 points and a DVD of An inconvenient Truth for 3,900 points.

Wells fargo can give 5k to 10k to support dev of green power. 5,000 points will get you 6,000 kilowatt hours, which they say is "equivalent to the clean air benefits of three acres of pine forest storing carbon for one year. For 10,000 points, cardholders can support the development of enough green power to offset more than seven tons of greenhouse gas emissions — the emissions from typical residential electricity use for a year, based on average consumption rates, Wells Fargo said. 7,000 points will get you a Portable Solar Charger.

Chase BP Visa Rewards Card cardholders can donate their rewards to The Conservation Fund. Users earn 5 percent for every dollar spent at BP service stations, so if you spend $1,000 on gas, the fund will receive $50. And you'll get a tax deduction for the charitable contribution.

Citibank plans to add green items to ist list of reward option such as compost systems and recycled furniture. 3,900 points will plant 25 trees and 6,000 points gets you a six pack of Compact FLourescent Lights in two bightnesses.