According to the psychologists, almost everyone has a desire to help those, who are in need. Of course credit card companies took this fact into consideration and issued credit cards for charity - affinity credit cards. These plastics feature the logo of the issuer as well as a charity logo. Every time you use your card to pay for goods and purchases, withdraw cash or make balance transfers, the banks donate a little percentage to the charity that you support. But there is something you should know about these cards before you decide to apply for best credit cards for charity!
First of all it is almost impossible to find an affinity credit card that has no annual fee. Plastics of this kind also feature pretty high interest rates. The donations seem to be really miniscule! The average donation is only about 0.5%. So, if you pay $100 with your affinity plastic, you will donate only 50 cents to the charity affiliated with your card. So, if you spend $200 a month with your affinity card, you will donate about $12 annually! If you are paying sky-high interest rate and a hefty annual fee, it will be pretty difficult for you to get excited about your help!
Affinity cards don't have the same perks and benefits as top credit cards. It will be extremely difficult for you to find a cash rebate card for charity, or a card that offers extended warranty coverage or travel accident insurance.
But if you are a responsible credit card user who spends a lot with your card and pays off credit card balance in full and every month in order to avoid most of fees and interest, affinity cards can be a good match for you if you want to help the needy.
If you want to use affinity cards in order to donate money, your donations are not tax-deductible, because you are not donating from your pocket.
The competition between credit card companies and banks that issue affinity credit cards is rather stiff. Everyone wants to provide customers with best offers! Affinity cards are often used on regular basis, because credit card users think that they actually help!
Despite all cons of affinity cards, more and more Americans are willing to have one! Donations often bring comfort and peace in our souls. Americans are very kind-hearted and are often ready to help, that's why credit cards for charity are so popular. Just by using your credit card you can provide homeless people and animals with shelters, help students and teachers to get scholarships, support rare species of animals and what not! Every owner of affinity credit card can change the world for the better, well at least a little bit! It is in your hands to help others!
