Credit Card companies are all vying for your business. To get your business they offer inducements such as 0% interest free rate for a certain period, air-miles, points which are then redeemable for certain items at specified outlets and even free broadband. To this they have added the facility for anybody so minded to support their favourite charity/charities. People are now becoming more aware of various charities and the good work they carry out in fields such as medical research, preservation of wildlife, preserving National Heritage, caring for children and the aged to name a few and want to help by donating to registered charities.
They can do this by taking out what is known as an Affinity Credit Card. This is a credit card affiliated to particular charities such as The British Heart Foundation, Breakthrough Breast Cancer and the World Wildlife Fund. The idea is that the credit card companies will make an initial donation e.g. £5.00 followed by donations e.g. 0.3% of the amount you spend. So if you spend £100.00 the credit card company will donate 0.30p. These donations greatly benefit the charities and enable them carry out their good work.
While this all sounds good, remember as with any application for a credit card of any kind whether Affinity or not you need to understand your financial circumstances. In other words you have to decide whether you are likely, depending on the level of your income, to clear the outstanding balances at the end of each month or carry some over. Remember that Affinity Credit Cards often charge a higher interest rate and unless you are sure that you can clear any balances each month this form of credit card could prove expensive in the long run. If however, you are in the fortunate position of being able to clear any outstanding balances each month, then helping out your favourite charity is a great idea.
Return to our credit card information section, or return to the homepage.