Credit Cards Online Information

A credit card that pays a percentage of your spending to fund anti-Aids programmes in Africa has been launched by rock star activist Bono.

The Red card, set up with American Express, was announced at the World Economic Forum in Switzerland last week.

Other companies have launched Red-themed products, including Gap and Emporio Armani, and all have made a commitment to the Global Fund, a public-private body that channels money into combating Aids, tuberculosis and malaria.

Amex estimates there are 1.5 million "conscience consumers" willing to use the "power of their pocket" to effect social change.

The card, available from 1 March, will donate 1 per cent of any spending up to pounds 5,000 to the Global Fund, rising to 1.25 per cent above pounds 5,000.

Amex will also donate another pounds 5 on behalf of consumers who use the card in the first month.

A spokeswoman for Amex concedes the card isn't the cheapest on the market. It has an annual percentage rate of 12.9 per cent and a balance transfer offer at 5.9 per cent for six months.

"Amex Red gives more than most charity cards, which donate only 0.25 per cent of spending," said Martin Lewis at financial website Money-savingexpert.com." However, users must watch out for repayments that pay down any cheaper balance transfer debt first.

# posted by Medical Information : 2:57 AM