New Eco card ‘Think’ from Co-Operative Bank
A new credit card called ‘Think’ has been launched by The Co-Operative Bank offering a range of ethical as well as consumer benefits. Barclaycard’s Breathe credit card is the nearest similar type of card supporting ‘green’ purchases.
So, ‘Think’ offers;
- 7% APR on purchases made from Co-Op’s ethical partners, please see the Co-Op website
- A competitive 14% Typical APR, variable
- 7% on balance transfers for the first 6 months, from the date of each balance transfer
- No annual fee
- A contribution of £0.25 made to Cool Earth for every £100 spent on the card
Barclaycard’s Breathe might be more tempting offering;
- 0% on balance transfers for the first 6 months from account opening (2.5% fee applies)
- 5.9% purchase rate on public transport (excluding transport for London) 14.9% Typical APR, variable
- 50% of net profits are donated to projects supporting climate change.
Neither of these credit cards particularly stands out as competitive in their own right, but they’re perhaps the beginning of a new breed of eco friendly offerings.
At least two of the credit card companies, earning billions of pounds, are starting to give something back to help the environment.
I don’t particularly make an effort to think ‘green’ when I shop but if these cards do eventually become as competitive as others; offering 0%’s for 12 months on purchases and balance transfers, for example, I would seriously consider using one, would you?