If you’re looking to participate in a charitable cause this holiday, you may be conducting research to help you decide where to donate your time, talent, or money. Philanthropy is on the rise, especially among individuals. According to Giving USA, individuals gave more than $258 billion last year, a 5.7% increase from the year before. One thing you may not be aware of is that you can also give back through your credit card rewards. Some credit card issuers offer customers the opportunity to donate part of their cash back bonuses or give a donation amount separate from the rewards program. Here are some rewards cards programs that give you the chance to give back.
1. Credo Visa Card
The Credo Visa Card rewards program donates 10 cents from every purchase toward charitable causes such as American Civil Liberties Union and Rainforest Action Network. Since 1985, Credo has donated more than $80 million to those in need. Other card features include triple points for grocery purchases and charitable giving. In addition, if you spend $500 within the first 60 days of opening your account, a tree will be planted. This is part of a partnership between Credo and Trees.org to help plant trees in Sub Saharan Africa.
2. Discover Giving
If you own a Discover cash back credit cards such as Discover it, you are able to donate some of your rewards through the Discover Giving program. The network features more than 1.5 million charities, including Toys for Tots and Salvation Army. You have the option of making a one-time or recurring donation. In addition, you can make a donation in someone’s honor or you can sign up as an anonymous donor. Furthermore, you can earn rewards for each dollar donated through the Discover Giving Program.
3. Susan G. Komen credit card
If you’re passionate about giving to causes focused on breast cancer awareness, the Susan G. Komen credit card is a tool that can assist you with your efforts. The Susan G. Komen credit card, in conjunction with Bank of America and MasterCard, donates 0.08% of purchases toward Susan G. Komen, which dedicates time to breast cancer research and awareness. Bank of America said from June 2015 through December 2020, the bank has pledged to donate $3 million to Susan G. Komen as part of its Pink Ribbon Banking credit card and checking program. Since 2009, Susan G. Komen has received more than $6 million from Bank of America through this program.
Other card features include a $100 cash rewards bonus after making a minimum of $500 in purchases within 90 days of opening your account. In addition, customers receive 1% cash back on purchases, 2% cash back for grocery purchases, and 3% cash back for gas for the first $1,500 in total grocery store and gas purchases each quarter.