When it comes to credit cards, many people don’t think about whether or not they’re cards are green. But there is a growing segment of the population that is interested in expanding their personal finance practices to include green credit cards. This is mostly done by choosing affinity credit cards, which allow you to choose, instead of rewards for yourself, where to send a donation from a percentage of your credit card purchases.
But for the über-environmentalist in personal finances, it does help to know which credit cards are the most “environmentally friendly.”
As Real Money points out, some credit card companies, despite the affinity rewards programs they offer, support practices or invest in companies that do a great deal of harm to the environment. In an effort to instigate change — and to help those who care about these sorts of things choose “friendlier” credit cards — Real Money offers a rundown of what’s available:
- JP Morgan Chase is pegged as the most environmentally friendly credit card company (despite its other ethical concerns). The company makes efforts to fight global warming and to address the problem of disappearing rain forests. The credit card issuers owned by JP Morgan Chase include Bank One.
- Bank of America and Citibank both also receive credit for their efforts in terms of campaigns against de-forestation.
- Morgan Stanley, Credit Suisse First Boston, Wachovia, Wells Fargo and Merrill Lynch all have poor environmental records. Morgan Stanley owns Discover Card.