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Ethical Finance
By Rachel Lane, Thu Dec 8th

On one hand consumers are being universally criticised forrunning up significant amounts of debt on credit cards, yetconversely many companies are capitalising on the growing creditcard debt, from charities and political organisations tofootball clubs, the Association of Surgeons and somewhatironically ActionAid, an international development agency whoseaim is to fight poverty worldwide.

Financial comparison site moneynet.co.uk provided 226 creditcards in a general credit card search, from which the consumercould choose a product to suit their lifestyle, as well as theirwallet. Credit cards with charity branding involve many majororganisations including Amnesty International, Christian Aid,WaterAid, RSPB, Save The Children, the Ramblers Association,Oxfam, Greenpeace, the Vegetarian Society, RSPCA, ActionAid,Children In Crisis, Help The Aged, Tearfund and the TerenceHiggins Trust.

Perhaps it is fair to say that if people are going to spend onplastic, they should be helping charitable organisations on theway and should they feel inclined to contribute to a politicalinstitution, donating

 

a small % of each transaction is aconvenient method. If most consumers were ethical spenders, thenassociations between transactions and third party beneficiarieswould inherit this quality, but as debt spirals out of control,is it responsible or ethical that someone should benefit at thecost of someone else?


Although it is standard for most card providers to offer anintroductory free period, the consumer may be hit by a moresubstantial annual percentage rate (APR) later on the year, withsome providers, such as ASDA charging a massive APR of 28.8%.Even ActionAid charges an APR of 17.9%, rescuing the developingworld at the expense of the developed.

For further information about credit cards and details onspecific providers: http://www.moneynet.co.uk/http://www.eiris.org/ http://www.creditaction.org.uk/http://www.moneybasics.co.uk/mb/site/Home.html

About the author:Rachel writes for the personal finance blog cashzilla:http://www.cashzilla.co.uk/


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