What's the best eco-friendly green credit card?

Question

The American Express Green Card’s credit score requirement is 750. This means you need excellent credit to have a decent chance of approval. The Amex Green Card’s credit score requirement is comparable to that of several other American Express cards, like the Amex Gold Card and Amex Platinum Card. Some users report being approved with lower scores, but it’s a much safer bet to wait for a score of 750 before applying. … read full answer

The American Express Green Card’s credit score requirement alone doesn’t determine your approval or rejection. But it is a key component. Amex also considers annual income, employment status, monthly rent/mortgage payments and existing debt, among other factors.

Here’s the American Express Green Card credit score requirement and more:

Credit score required: 750+ (Excellent credit)

Other factors: Annual income, employment status, monthly rent/mortgage payment, existing debt and more.

Age requirement: At least 18 years old (must have a verifiable source of income).

Residency/identification requirement: A U.S. mailing address (no P.O. boxes) and a Social Security number, Individual Taxpayer Identification Number or passport.

Even if you meet the American Express Green Card credit score requirement, you should be aware that the Green Card is a charge card before you apply. That means you’re usually required to pay the entire balance in full each billing period. There is a feature called “Pay Over Time” where cardholders can carry a balance on individual charges that are each at least $100. However, these purchases are subject to approval by Amex. And the account will have a set “Pay Over Time” limit that cannot be exceeded. If you usually carry a balance every month, you might want to consider other Amex cards.

Both the Blue Cash Everyday card and the Amex EveryDay card are viable options for anyone who plans to carry a balance from month to month. Neither card makes you pay in full each month. And they both offer 15 months of 0% interest on purchases and balance transfers. Both cards only require good credit. That’s a 700+ credit score.

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Answer 1 · 2019-12-05 08:26:46

Christie Matherne, Credit Card Writer

@christie_matherne12/05/19

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The best eco-friendly green credit card is the Green America Rewards Credit Card because it donates a percentage of every purchase to the green economy-oriented nonprofit, Green America. A few other options that give a slice of your purchases to green organizations are the Bank of America World Wildlife Fund Cash Rewards Card and the Amazon Watch Visa Platinum card issued by TCM Bank.

Donations aren’t the only way credit card companies can make an environmental impact. Payment technology company CPI Card Group announced its “Second Wave” credit and debit cards in September 2019, made from plastic that would have otherwise ended up in oceans. CPI said they’re partnering up with a yet-to-be-named “large U.S.-based card-issuing financial institution” in the near future.

Similarly, American Express is now offering its redesigned Green Credit Card, made of recycled ocean plastic collected by Parley for the Oceans. Amex has also recently announced a recycling service for its credit cards, which will roll out in 2020.

That said, finding a truly environmentally-friendly credit card is more complicated than it might seem on the surface. Some environmental groups suggest that all credit cards encourage consumption, which is generally not good for the planet. Plus, many credit card issuers that donate money to an eco-friendly organization on your behalf will not disclose how much gets donated. That includes the Green America Rewards Card issued by TCM Bank. And this makes it difficult to see how much good you’re doing.

There’s a big picture issue, too: Some bigger banks that issue “green” credit cards - Bank of America, for example - also fund ventures in notoriously not-green fossil fuel industries. That might make some environmentalists hesitate to sign up for Bank of America’s World Wildlife Fund Cash Rewards card.

Overall, making your spending more “green” is a good idea, but credit cards will only do so much in that effort. Being conscious of your purchases might be better for the environment than finding an eco-friendly or “green” credit card. Another option is getting a credit card with good rewards and simply making your own donation to the environmental group of your choice.

What's the best eco-friendly green credit card?

Christie Matherne, Credit Card Writer

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