| |
Ethical Finance: Who Benefits From Our Spending?
By Rachel Lane
On one hand consumers are being universally criticised for running up significant amounts of debt on credit cards, yet conversely many companies are capitalising on the growing credit card debt, from charities and political organisations 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 organisations 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 organisations 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/ http://www.creditaction.org.uk/ http://www.moneybasics.co.uk/mb/site/Home.html
Rachel writes for Cashzilla, the personal finance blog:
http://www.cashzilla.co.uk/
Rachel drinks Guinness.
Article Source: http://www.simplysearch4it.com/article/2911.html
| If you wish to add the above article to your website or newsletters then please include the "Article Source: http://www.simplysearch4it.com/article/2911.html" as shown above and make it hyperlinked. |
| Some other articles by Rachel Lane | A Cornish Walk: A Simple Tourist Activity, But An Absolute Must For An English Holiday
Cornwall has always been a favourite holiday destination and its dramatic coastline, picturesque villages, vibrant culture and sumptuous cuisine. For those visitors who have travelled to the region, the ...
Personal Finance Isn't Rocket Science, So There's No Need To Stick Your Head In The Sand
Are you one of those people who doesn't open their bank or credit card statements? Do you take out store cards on the spur of the moment? Have ...
Life Insurance: Why There's No Need To Be A Desperate Housewife
Contemplating what may happen to your wife (or husband) and children if you die is not likely to be a thought you wish to contemplate. However, ...
Life Insurance Without Life Value: Why Young People Are Snubbing Financial Advice
This article is written by a 27 year old female (borderline Generation X / Y) called Rachel. Rachel spent six years at university, has no outstanding debts with the exception of government student ...
Lions And Loans: Why Finance Should Always Be Personal
Different types of loans are available for almost every aspect of your life: personal loans, car loans, secured and unsecured loans, home loans, homeowner loans, ...
|
|
| |
|
