Green Credit Cards are becoming increasingly popular as countries around the world put forth effort to fight climate change. An environmentally friendly credit card option can help consumers and tree huggers alike collect green rewards while building their credit simultaneously.
There are a number of different options that allow you to support community development groups and organizations that are making a conscious effort to fight climate change.
Without changing your spending habits, you can have peace of mind knowing that each transaction you make will have a percentage that goes towards fighting the climate crisis.
Below we will compile a list of the 4 Best Green Credit Cards, the pros, cons and fees that will best suit your every day purchasing needs. We will continuously build on this list as better options come about!
Best Green Credit Cards
1. Aspiration Zero
Card Facts:
- Regular APR: 13.15% – 22.95%
- Mission is to plant 1 billion trees by 2030
- Plant a tree for every transaction and let you round up to plant one too
- Track your progress in their app
- Rewards can be redeemed as a statement credit or additional trees planted
- Each month you reach carbon zero, you will receive additional card benefits
Pros:
- Welcome Bonus: $300
- Transactions fund carbon offset projects (Tree planted for each transaction made)
- You can earn up to 1% cash back on eligible purchases
Cons:
- Annual Fee: $60
- Minimum Credit Score Requirement: 670+
- Low cash back rewards
2. Green America Rewards Platinum Visa®
Card Facts:
- Regular APR: 9.99% – 19.99%
- Company focuses on environmental justice
- Supports North American and local firms fighting the climate crisis
- 24/7 U.S. Customer Service
- In collaboration with TCM Bank, Green America supports clean energy, fair labour, responsible finance, and environmental justice
Pros:
- No Annual Fee
- 0% Introductory APR for the first 12 billing cycles on purchases and balance transfers
- 1% cash back on purchases made through TCM Bank
Cons:
- No Welcome Bonus
- Minimum Credit Score Requirement: 700+
- Low cash back rewards
3. Amalgamated Bank – Maximum Rewards World Mastercard®
Card Facts:
- Regular APR: 18.49% – 24.49%
- One of America’s Leading Socially Responsible Banks
- Powered by 100% renewable energy
- Direct support for climate justice, environmental non-profits and clean energy
- A suite of ESG Impact Products (ResponsiFunds)
Pros:
- No Annual Fee
- $30 Welcome Bonus (Equivalent to 30,000 points)
- 0% Introductory APR for the first 12 billing cycles on purchases and balance transfers
- Unlimited 1.5% cash back on every purchase
Cons:
- High annual APR
- 27.49% APR for Cash Advances
4. FutureCard Visa® Card
Card Facts:
- Regular APR: 18.49% – 24.49%
- One of America’s Leading Socially Responsible Banks
- Powered by 100% renewable energy
- Direct support for climate justice, environmental non-profits and clean energy
- A suite of ESG Impact Products (ResponsiFunds)
Pros:
- No Annual Fee
- $30 Welcome Bonus (Equivalent to 30,000 points)
- 0% Introductory APR for the first 12 billing cycles on purchases and balance transfers
- Unlimited 1.5% cash back on every purchase
Cons:
- High annual APR
- 27.49% APR for Cash Advances
Choosing Green Credit Cards
Choosing the right credit card can be a difficult endeavour. Especially for those who are conscious about the environment and the products they consume on a daily basis. Reaching net zero emissions will require a collective effort from governments, institutions, corporations and consumers.
However, just like any credit card you sign up for, there will be certain fees and other variables that one must consider. Below we will list some key things to consider before choosing Green Credit Cards.
- Annual Fees
- Introductory APR
- Regular APR
- Balance Transfer Fees
- Welcome Bonus
- Green Certificates
- Card Issuers Commitment to ESG Disclosures
- Card Issuers Financial Interest In Fossil Fuel Industry
- Travel Insurance & Collision Waiver Coverage
Green Credit Cards: Final Takeaway
Green Credit Cards are starting to become a hot topic as we continue to see a shift in the political and regulatory environment for sustainable investing.
This has led to increased interested in sustainable financial products. With Green Credit Cards being a new category, it will be incredibly difficult for consumers to find card issuers who’s interests are not either directly or indirectly tied to the fossil fuel industry.
The Aspiration One is a great option for those interested in carbon offset projects such as Tree Planting. As well as, the FutureCard Visa that provides direct support for climate justice and environmental non-profit organizations.
It’s important that you way all the pros and cons and pick an option that best suits your needs and aligns with your climate goals.
