Ethical Finance: Who Benefits From Our Spending?
Rachel Lane
On one hand consumers are being universally criticized for
running up significant amounts of debt on credit cards, yet
conversely many companies are capitalizing on the growing
credit card debt, from charities and political organizations to
football clubs, the Association of Surgeons and somewhat
ironically ActionAid, an international development agency whose
aim is to fight poverty worldwide.
Financial comparison site moneynet.co.uk provided 226 credit
cards in a general credit card search, from which the consumer
could choose a product to suit their lifestyle, as well as
their wallet. Credit cards with charity branding involve many
major organizations including Amnesty International, Christian
Aid, WaterAid, RSPB, Save The Children, the Ramblers
Association, Oxfam, Greenpeace, the Vegetarian Society, RSPCA,
ActionAid, Children In Crisis, Help The Aged, Tearfund and the
Terence Higgins Trust.
Perhaps it is fair to say that if people are going to spend on
plastic, they should be helping charitable organizations on the
way and should they feel inclined to contribute to a political
institution, donating a small % of each transaction is a
convenient method. If most consumers were ethical spenders,
then associations between transactions and third party
beneficiaries would inherit this quality, but as debt spirals
out of control, is it responsible or ethical that someone
should benefit at the cost of someone else?
Although it is standard for most card providers to offer an
introductory free period, the consumer may be hit by a more
substantial annual percentage rate (APR) later on the year,
with some providers, such as ASDA charging a massive APR of
28.8%. Even ActionAid charges an APR of 17.9%, rescuing the
developing world at the expense of the developed.
About The Author: For further information about credit cards
and details on specific providers:
http://www.moneynet.co.uk/http://www.eiris.org/
<< ------------ End of Free Reprint Article ----------- >>
Find More Free Articles
See Also:
All Free Articles About Money & Finances
Index of All
Free Reprint Articles
