Should I Keep My Charity Credit Card?

The charity credit card comes with tags like “donate while you spend”. So the question many ask is whether I should keep my charity credit card?

Well I guess not. The raging scam in the name of charity has cost many individuals both in negligible and huge amounts of money. To understand why you should not go keep your charity credit card, you need to understand what exactly they are. They are kinds of credit cards that are designed by credit card providers to offer transaction services, as well as an act to the goodness of certain causes. They are usually in conjunction with organizations of charity or causes. Mostly one will be driven to the notion that once they purchase a commodity a certain percentage will be donated to charity. There is a variety of ranges in these kinds of credit cards. Having understood this, it is time to break it down to you on why it’s time you ditched your charity credit card.

A Quick Overview of How They Work How They Work

The banks are always out to make profits with every great and attractive innovation they come with. The charity credit card is one of the plots to keep the money rolling. If you were to calculate how much really goes to charity, you would be surprised. The charity card may receive an amount of about £5 to £25 and what gets to the donation basket is a mere 0.25% of what one spends.

How banks operate when it comes to the charity credit cards, is different. You will find that some banks that chip a little more into the causes while others literally make the whole thing a money making scheme. For instance, the renowned Virgin Charity card is quite genuine and allows you to contribute to a cause of your choice. The good thing about contributing to a cause is that there is a variety of options that you can opt for apart from the charity credit card way.

The better option would be to go for a cashback kind of credit card. The cashback credit card is the kind that basically instead of claiming to give it to a cause they give you the small percentage after every purchase that you make. You can change to this kind of credit card as it is open compared to the charity credit card option.

The Capital One World MasterCard is an appropriate option that can pay the holder up to five percent cashback, meaning you are given five pounds for every pound you spend. The first three months are, however, crucial £100 is the first amount that you get on cashback. To benefit hugely from a cashback credit card, you will be required to pay up in time. Delayed payments will only cost you more as the credit card. Use this kind of credit card whenever you have to, the maximized attribute on usage will actually work to your advantage. Now you can make donations to causes of your choice without having to be charged for anything.

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