HSBC has launched a credit card with green rewards.
Customers who spend at least $3,000 using HSBC’s new ecosmart MasterCard can redeem earned points in the form of charitable donations to organization involved in the HSBC Climate Partnership, including Earthwatch Institute and Smithsonian Tropical Research Institute. Other organizations that HSBC card members can support with their earned points include Arbor Day Foundation, Wind Power Renewable Choice, and Our Energy.
Card members, who will receive one reward point for every dollar spent on the new card, will also be able to redeem reward points for environmental-friendly merchandise, such as a rechargeable mulching mower or a garden composter, or to purchase gift cards at various retailers.
Some banks have been reluctant to market green credit cards because they don’t want to appear “too green” or judgmental of their customers’ behavior.
Others have embraced the idea:
Brighter Planet launched a green card with Bank of America.
GE launched the GE Money Earth Rewards Platinum MasterCard.
MetaBank issued a GreenPay MasterCard.
Barclaycard has a green credit card
Wells Fargo offers a credit card with renewable energy reward options.