An ethical or green credit card?

CountyGirl

I am lucky enough not to need to use my credit card very often. I currently have one linked to a bank account that I also don't use very often. I have tried to 'green' my finances and recently, when I used my card for a large purchase, began to think about how I could ensure I get the most ethical, and green credit card in my wallet. I can find guides on the internet to help me choose an ethical current account, savings account or ethical investments, but nothing that would direct me to an ethical, green, eco-friendly credit card. Does anyone have any suggestions?

[Deleted User]

Cards in themselves aren't green or ethical.  It's the providers behind them,  So if you've found a provider you like for current accounts etc, see if they do a card.

jimbo26

You would be better moving your current account first, you probably use that more than a credit card. Try Tridos Bank https://www.triodos.co.uk/, they have a debit card made from a plastic substitute called polylactic acid (PLA), which is created from renewable sources such as plant leaves and corn.

They don't do a credit card though, so need to look around for a card from an ethical bank, maybe Co-op?

Sandtree

Ethical banking is typically about what they invest the money you give them to give you the interest/negate the need to charge fees etc.

With a credit card you don't have your money with them, you have a debt to them and so the concept of ethical cannot work in the same way. Their moneys are predominately made by charging customers interest rather than by investments.

If you want an "ethical" credit card then you will need to look at the bank in the round and those that provide your savings or current account may be a good option unless its a token "ethical" account and they offer non-ethical versions too

CountyGirl

Thanks for your replies.
Deleted_User 

I am happy with my bank and don't want to switch, but they don't do credit cards. So, I am looking for one that I don't have to be a customer of the bank to get. 

@Sandtree, I understand that, but if you end up not paying it off every month (which I currently do, but who knows what might happen in the future, right!), then you do end up giving them your money, which they may then use for non-ethical or not-green investments. I would never bank with Barclays for instance, even if I didn't end up giving them any of my money. Banking with them would feel like a tacit approval and condoning their actions.  

dave1345

The Ethical Consumer website (which you have to be a subscriber to for the full details) doesn't rank banks for credit cards, but for banks that offer current accounts who also offer credit cards as a stand alone product (i.e. you don't need another account with them first) then Metro Bank is the one listed the highest. The only "bank" that ranks slightly higher that also offers credit cards is Nationwide Building Society, but you do need to have another account with them first (not necessarily a current account though).

Sandtree

CountyGirl said:

@Sandtree, I understand that, but if you end up not paying it off every month (which I currently do, but who knows what might happen in the future, right!), then you do end up giving them your money, which they may then use for non-ethical or not-green investments. I would never bank with Barclays for instance, even if I didn't end up giving them any of my money. Banking with them would feel like a tacit approval and condoning their actions.  

They will use your payments to enable them to lend money to others.

Look at wider banking groups and their non-card operations to find a company you like. Looking at a pure credit provider like AmEx is going to be much more difficult.

[Deleted User]

CountyGirl said:

Thanks for your replies.
Deleted_User 

I am happy with my bank and don't want to switch, but they don't do credit cards. So, I am looking for one that I don't have to be a customer of the bank to get. 

@Sandtree, I understand that, but if you end up not paying it off every month (which I currently do, but who knows what might happen in the future, right!), then you do end up giving them your money, which they may then use for non-ethical or not-green investments. I would never bank with Barclays for instance, even if I didn't end up giving them any of my money. Banking with them would feel like a tacit approval and condoning their actions.  

The interest owed on any credit card is very small (in terms of them investing) and might well be used to cover defaults by other customers. You might equally argue that the fee they get for processing payments could also be a problem. Also, you will likely struggle to find any truly ethical bank depending on your standards - sure a bank that doesn't invest in war is good but what about mining? If they invest in green fuels, great, but what about the supply chain like slave labour mining rare earth metals? Open a card with someone like Co-op and don't pay interest

WillPS

jimbo26 said:

You would be better moving your current account first, you probably use that more than a credit card. Try Tridos Bank https://www.triodos.co.uk/, they have a debit card made from a plastic substitute called polylactic acid (PLA), which is created from renewable sources such as plant leaves and corn.

They don't do a credit card though, so need to look around for a card from an ethical bank, maybe Co-op?

For all they chat about their debit card using PLA, they also require use of an old school separate single-bank 2FA device which is significantly more plastic than just a standard bank card.

dr_adidas01

If you want a green card, then why not apply for the American Express Green charge card 😂😂

Caerful

Hi.  I want to change my Barclays credit card for an ethical credit card provider.  I bank with Halifax and want an ethical bank account too.  It isn't easy to get the information to make the switch.  If the only focus is on saving money, there is advice available.  I need to be careful with my money but I would like to prevent harm being done to people or the planet by the companies I chose to do business with.