New card rewards ethical spending
November 2, 2007 by admin
Filed under News, News-Credit-Cards
The Co-operative Bank has 
announced the launch of ‘think’ today, which is a credit card aimed at rewarding consumers for making ethical purchases.
A world first, the card offers users a lower rate of interest of just seven per cent on all ethical spending with its partner organisations such as Lush, Adili.com and Ikea for six months after the payment is made.
Meanwhile, for each first use of the card, the bank has pledged to arrange the purchase and protection of half an acre of Brazilian rainforest.
David Anderson, chief executive of the Co-operative Bank, said: “According to our own Ethical Consumerism Report, conscious spending has been increasing at an average of 15 per cent a year since the start of the decade and all the signs are that this growth is set to continue.
“We want to reward those customers who make ethical choices and encourage everyone to really think about how their choices impact the wider world, which is why we have developed the new ‘think’ card.”
Furthermore, users of the ‘think’ card will be given discounts on selected partners including £35 with Ecotricity as well as reductions with Eco First and Nigel’s Eco Store.
Becoming more green is a hot issue for today’s consumers, who are increasingly calling for companies to show themselves ethically accountable.
