Today, Green America is proud to announce our newest campaign: The “Take Charge of your Card” campaign urges consumers to move their money away from mega-banks with questionable environmental practices, restrictive fees and interest rates, and outlandish executive compensation and into smaller community development banks and credit unions. One of the best ways to remove support from banks that fail to serve people and the planet is to reject their line of credit and start using a “green” credit card to make your purchases.
Mega-banks collect upward of $60 billion each year on credit card transaction charges alone – just a few different institutions control a very significant piece of the credit market. By diverting the charges collected each time you swipe your credit card from a mega-bank to a bank that serves communities in need, you can be confident that your money is actually supporting something good.
And increasingly, consumers have a choice of where their transaction charges can go. Green America has compiled a list of socially responsible credit cards that direct funds to support education, green businesses, local development projects, and the environment. This means that the next time you swipe your credit card, a portion of that purchase could fund environmental protection efforts in the Amazon Rainforest, rather than going towards an extravagant executive salary. Community cards increasingly offer benefits like points that may be used for travel or merchandise, in addition to the causes they support.
Green America urges you to check out our resources on socially and environmentally responsible credit cards. You can find useful information on the pros and cons of different types of cards, a list of community development banks and credit unions offering credit cards, and resources on how to ditch your mega-bank and redirect your transaction charges to a purpose that benefits people and the planet. With your help, we can weaken the influence of large financial institutions, strengthen responsible banking, and promote a forward-thinking and green economy.
Please share our Facebook Page and let your friends know that you will no longer support the mega-banks that place strain on our environment and our economy.