Credit cards are flashy and plasticky. They’re issued by megabanks. They stand in for dollar signs. They rarely appear in the same sentence as “conservation” or “Mother Earth.” However, it doesn’t have to be that way. When your card supports the right products and causes, it can be even greener than your paper Benjamin.
BENEFITS FOR THE ENVIRONMENT: You’ll save forests and wildlife, reduce landfill waste, contribute to your favorite environmental organization, and avoid forking out cash to banks that secretly fund dirty practices.
Time and effort: Medium. You will have to commit time to researching the card that suits you best.
Cost: Low. Make sure to look for low interest rates and no annual fees when you research cards. As with any credit card, try your best to pay your bills on time to avoid extra fees!
How to Make Your Credit Card Sustainable:
- Choose your card.1 The megabanks (Bank of America, PNC, Citigroup, and others) now offer a variety of green cards that boast eco-rewards, carbon offsets, and even complimentary trees. Some megabanks offer affinity cards, which bear the logo of a select charity or nonprofit and donate about half a penny for every dollar you charge or transfer. During your research, don’t fall victim to illegal logging in Indonesia, and the construction of oil pipelines in Russia. Last year, ten megabanks provided more than $2.5 billion in loans and bonds to companies that conduct mountain top removal, according to a report by the Sierra Club and Rainforest Action Network.3
- Your best bet is to avoid the megabanks and instead look to a community investment bank or credit union, which provide financial services to those under-served by traditional banks.4 For example, consider Portland’s Albina Community Bank and its Visa card, which donates about half a percent of all purchases you make to your favorite Portland cause (all without secretly decimating the environment in Appalachia or Indonesia). In 2010, Albina donated $14,697 to local nonprofits.5
- Sign up for online statements. Instead of archiving paper statements, save your electronic statements to a hard drive or store them in your email account. Online statements save trees. For example, Discover card members save over 70 million pages per year with paperless statements.6
- Pay your credit card bills online. Save the paper, postage, and fuel required to mail a check.
- Now if only you could cut out all that junk mail associated with credit cards. You can! Start by registering with the read here .
- Most credit cards are made of PVC, a plastic that doesn’t biodegrade. Petition your credit card issuer to ditch PVC. For more on PVC, read here .
- Use your credit card to make eco-friendly purchases. Also, decline a receipt at the register.
- Use the card sparingly. Save natural resources by buying only what you really need. Instead of swiping at the supermarket, pay in cash at your local farmer’s market.
- If you still have some megabanks in your wallet, pay your bills on time. Otherwise, you’ll have to fork over some cash, granting your bank freedom to do whatever it pleases with your money.
- Recycle your expired cards, but don’t mix them in with your household recyclables. Collect your cards and other PVC plastics (and all your friends’ PVC plastics) and drop them off at one of the 1,800 post-consumer plastic recycling companies in the United States. Alternatively, get crafty with your cards. Make an iPhone stand, a mosaic picture frame, a magic wallet, a magnetic flower box, a guitar pick, or even a pair of earrings!7 But remember, whether you craft or recycle, protect your identity by cutting or scratching the card to remove your name and number.
Swipe with care, and you just might do some good for the environment!
