Like a lot of people, I support the whole 'green' movement, but only as long as it doesn't inconvenience me too much. I've seen An Inconvenient Truth. I have green electricity for my home. I want to do the right thing, but I still manage to leave my green bags in the boot when I go shopping and I sometimes find myself at home with fifteen lights on and a TV running in another room.
It is for this reason that I think the GE Money Eco MasterCard will have wide appeal. Every time you use your Eco MasterCard, you'll contribute to projects that offset greenhouse gas emissions through the Origin Energy Carbon Reduction Scheme. The funds are used for reforestation, renewable energy, water and wastewater treatment, land and habitat conservation, energy efficiency and other environmental projects that meet strict standards.
The card's website boasts that if 100,000 spent just $600 a month on their Eco MasterCard, the carbon offsets accumulated would the equivalent of taking 115,000 cars of the road each year. Pretty impressive.
And in case you don't want to give up all of your rewards, the card offers two contribution options: 1% of your purchases to emission reduction projects, or 0.5% to emission reduction projects and 0.5% cash back.
Admittedly, the card is somewhat of a one-trick pony - if you take away the rewards program it's fairly unremarkable. The purchase rate (18.49%) is quite high for a mid-range card, but the annual fee is low ($49) and you get 55 days interest free on purchases. GE is also currently offering 4.99% for six months on balances transferred.
Bottom line: the GE Money Eco MasterCard offers an innovative alternative to shopping- or travel-based reward programs. While the card itself is mediocre, it offers something none of its competitors can: a feeling that you're making a difference every time you use your credit card.
