If you’re still cutting checks to your favorite causes, you might be missing out. Some credit cards focus on charitable giving, helping you earn rewards or fundraise for your favorite nonprofit organization as you spend.
Here are five charity-focused credit cards that can help support a great cause.
1. Charity Charge Mastercard
Rewards: 1% cash back on every purchase for your organization of choice.
Sign-Up Bonus:None
Annual Fee: $0
Annual Percentage Rate (APR):1.99% APR for six months on purchases and balance transfers, then the prime rate (a variable amount determined by the Federal Reserve) plus 6.99% to the prime rate plus 16.99% APR.
Why We Picked It: Cardholders can donate tax-deductible cash rewards to multiple nonprofits.
For Your Charitable Donations: Every purchase earns 1% cash back, which is donated on a quarterly basis to as many as three nonprofits of your choosing. Recipients won’t have to pay credit card processing fees, which means all your rewards go directly to the organization(s) of your choice.
Drawbacks: Many competing cards earn stronger cash back rates.
2. U.S. Bank FlexPerks Travel Rewards Visa Signature Card
Rewards: Three points per dollar donated to charity through 2017 (two points thereafter); two points per dollar spent at airlines, gas stations, grocery stores, and select cellular providers; one point per dollar spent on other eligible purchases.
Sign-Up Bonus:20,000 bonus points if you spend $2,000 in net purchases in the first four months.
Annual Fee: $0 the first year, then $49.
APR:Variable 14.99% to 24.99% APR on purchases and balance transfers.
Why We Picked It: This card awards points specifically for charitable donations.
For Your Charitable Donations:Through the end of this year, charitable donations earn triple points on the dollar (beyond 2017, donations will earn two points per dollar). Points can be redeemed for travel, merchandise, gift cards, and more.
Drawbacks: There isn’t much time left to take advantage of triple points for charitable donations.
3. World Wildlife Fund Credit Card
Rewards: 3% cash back on gas and 2% cash back at grocery stores and wholesale clubs on up to $2,500 in combined purchases each quarter; 1% cash back on other purchases.
Sign-Up Bonus:$150 online cash rewards bonus if you spend $500 in the first 90 days.
Annual Fee: $0
APR:0% APR for 12 months on purchases and balance transfers, then variable 13.99% to 23.99% APR.
Why We Picked It: If you value nature and wildlife conservation, this card helps you earn cash back as you support the World Wildlife Fund (WWF).
For Your Charitable Donations:All purchases earn cash back, with special rates reserved for gas, grocery store, and wholesale club purchases. You can donate your redeemed cash back if you wish, but the WWF will benefit either way. The WWF will receive a minimum $3 donation when you open the card and an additional $3 annually. Plus, the WWF receives .08% of all retail purchases made on the card.
Drawbacks: This card is locked into the WWF, so keep looking if you prefer another charity.
4. HaloCard Visa
Rewards: 1% of purchases for your nonprofit of choice.
Sign-Up Bonus:None
Annual Fee: $0
APR:9.9% APR for six months on purchases, then variable 13.9% APR; 7.9% APR for 12 months on balance transfers, then variable 13.9% APR.
Why We Picked It: This card makes automatic donations to your favorite nonprofit.
For Your Charitable Donations:All purchases earn 1% back, which is donated to the nonprofit of your choosing. You can change which nonprofit to donate to at any time, and all donations are tax deductible. The nonprofit will not incur any processing fees.
Drawbacks: The 1% earning rate isn’t very impressive compared to other cards.
5. Pink Ribbon BankAmericard Cash Rewards Credit Card
Rewards: 3% cash back on gas and 2% cash back at grocery stores and wholesale clubs on up to $2,500 in combined purchases each quarter; 1% cash back on other purchases.
Sign-Up Bonus:$150 online cash rewards bonus if you spend $500 in the first 90 days.
Annual Fee: $0
APR:0% APR for 12 months on purchases and balance transfers, then variable 13.99% to 23.99% APR.
Why We Picked It: You can help Susan G. Komen fight breast cancer with this card.
For Your Charitable Donations:Bank of America customers get an extra 10% bonus cash when they redeem their cash back as an electronic deposit into their Bank of America account. Susan G. Komen gets $3 when you open the card and an additional $3 every year you renew. Plus, Susan G. Komen receives .08% of all retail purchases made on the card.
Drawbacks: The best cash back value is reserved for Bank of America customers.
How to Choose a Card for Charitable Donations
If you have one favorite nonprofit that gets the lion’s share of your donations, it’s worth checking if they offer a branded credit card. That way, you can easily support your favorite cause as you use your card.
If you plan to donate your cash back earnings to charity, be sure to compare charity-focused cards with their traditional competitors. With traditional cards, you can simply redeem your cash back or rewards and donate them directly to your charity of choice. It’s extra work, but it might be worth it for a more lucrative rewards program.
Make sure to check redemption and donation options for rewards. Some credit cards let you redeem your rewards for charitable donations, with no extra steps necessary. Certain rewards programs even let you donate miles or points to charity.
What Credit Is Required for a Card for Charitable Giving?
Rewards cards, charity-focused or otherwise, usually require good to excellent credit. Before you apply, ensure you have a good shot at approval, as a hard credit inquiry can lower your score. You can check your credit report absolutely free at Credit.com.
Image: Jacob Ammentorp Lund
Note: It’s important to remember that interest rates, fees, and terms for credit cards, loans, and other financial products frequently change. As a result, rates, fees, and terms for credit cards, loans, and other financial products cited in these articles may have changed since the date of publication. Please be sure to verify current rates, fees, and terms with credit card issuers, banks, or other financial institutions directly.