Credit Card Overview
Fact: there are more credit cards than people in Britain and the country's debt problems are amongst the worst in the world.
When choosing a card provider, its policies on responsible lending and debt advice provision are of key importance. The green and ethical concerns you bring to who you bank with, concerns about equal opportunities or the environment, are just as applicable to who you get your credit card from.
This section also looks at the green or ethical worth, as well as the practicalities of charity affinity cards.
Does your credit card provider treat its customers responsibly?
What are charity affinity cards and how do they work?
Does your credit card provider treat its customers responsibly?
Responsible lending
According to the British Banker's Association (BBA), responsible lending means 'providing credit, based on background checks and professional judgement, to people who can accommodate repayments without getting into financial difficulty'. As the sheer number of people in debt today shows, these principles are not always well applied by credit lending institutions. In 2008 our credit card debt hit £54.4bn and continues to rise.
Transparency is key - credit card customers should be presented with the terms and conditions attached to their card up front and in plain English. It is important to check whether your provider has a responsible lending policy in place, and how it is implemented if it does exist.
Debt management
Credit card debt is all too common in the UK. Some financial institutions offer basic in-house debt advice services, the scope of which can vary greatly. Often providers will refer customers to free advice services including the Consumer Credit Counselling Service, the Citizens Advice Bureau and others.
Use our search tool to find details of your provider's debt management services. Information on this subject can be found under 'Responsibility toward Customers'. Alternatively contact your provider directly for further information.
What are charity affinity cards and how do they work?
Affinity card providers make a small donation on behalf of the card holder to the charity it is associated with.
Such charity donations average around 25p per £100 spent. So, in order to donate £100 to your charity of choice you'd have to spend £40,000 with the card. Most providers also make a one-off donation of between £5 and £25 on each new card account.
In their analysis of charity affinity cards moneysavingexpert.com suggest that a more effective way to donate money is to use cash back cards. Cash back cards operate in much the same way as affinity cards except that instead of a charity, additional money goes to the card holder and this money is usually considerably more than a standard charity card donation. The cash back card holder can then donate the money they have earned to the charity of their choice and if eligible, Gift Aid it, so rather than £1 the charity will receive £1.28. Donations on affinity cards are not eligible for Gift Aid.
Your next steps
See our guide Next Steps - Credit Cards for more suggestions on how to find out about your credit card provider's green and ethical policies, how to contact them and how to find the right credit card for you.
Credit Card Search
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Credit Card Provider
First Trust Bank
Green/Ethical Products
- Basic Bank Account (available to customers in Northern Ireland only)
Ethical Lending or Insurance
No evidence of an ethical lending policy found for First Trust Bank.
However it states that it applies environmental criteria in assessing credit risk. No further information was found on the extent to which this policy would preclude the bank lending to entities on ethical grounds.
Human Rights
No policy was found to indicate that First Trust Bank avoids lending to or insuring companies that directly contribute to human rights violations.
Financial Exclusion
- Basic Bank Account (Northern Ireland only)
No evidence that the company provides direct financial support to or engages in partnerships with Credit Unions and CDFIs (Community Development Finance Institutions).
- Have a standard that all websites should comply with WA1 accessibility standards (level 2AA) as provided by the World Wide Web Consortium (W3C).
- AIB Group will on request provide Braille, or large print statements and correspondence.
- AIB Group has piloted lower level counters in branches and we are constantly reviewing accessibility to our buildings, taking account of planning issues. 69% of our branches are accessible with 44 ramps/platform lifts having been installed in the last number of years. Entrance doors to branches are also being automated facilitating accessibility.
Parent company has an on-going AIB Microfinance Fund target for 2012. No further information on whether available in the UK or the extent to which it is available.
First Trust Bank’s (AIB Group (UK) Plc.) parent company Allied Irish Banks Plc. reports that since 2006, it has been contributing to the Social Finance Foundation (an organisation which makes loan finance available at affordable interest rates to community based projects and micro enterprises, which yield a social and financial return). At the end of 2010 the bank reports that €15 million of these approved loans have been drawn down. The bank initially provided €6.27 million to the foundation and since 2009 has also provided an annual payment of €1.5 million, which will continue to 2021.
Environment
First Trust Bank's environmental policy covers the key areas of climate change, energy efficiency and waste. However, it does not mention water.
It shows commitment to continued improvement of its environmental performance.
Carbon Neutral
No commitment to become fully carbon neutral was found.
However First Trust Bank’s (AIB Group (UK) Plc.) parent company Allied Irish Banks Plc. has set challenging energy targets in Ireland - a 20% reduction in AIB's energy consumption and 30% reduction in AIB's carbon footprint by 2014.
Equal Opportunities
First Trust Bank’s (AIB Group (UK) Plc.) parent company Allied Irish Banks Plc. has a diversity policy which takes into consideration the key equality issues of race, gender and disability but not sexuality.
Women on the Board
Parent Company:
1/11 women hold top level board positions (9%).
Voluntary Standards & Initiatives
First Trust Bank is a member of Business in the Community (a business-led charity focused on promoting responsible business practice).
Historically the parent company Allied Irish Banks Plc. has participated in the Carbon Disclosure Project (CDP) - In 2010 Allied Irish Banks participated in the report on Ireland by CDP.
Charitable Giving
No evidence of First Trust Bank being involved in any charitable contributions however their parent company Allied Irish Banks has the following:
In 2010 AIB gave €1.82m through 182 local branches to be shared among 546 local deserving children's projects
With regards to community investment and development programmes, Allied Irish Bank reports that it invests in the community through corporate giving programmes and community sponsorship. Its major initiative is the Better Ireland programme, which provides funding to groups working with disadvantaged children.
The Allied Irish Banks Better Ireland programme is currently under review.
First Trust Bank
- Current Accounts
- Savings
- Investments
- Credit Cards
- Loans
- Mortgages
- Insurance (Travel)
- Student Current Account
- Student Credit Card
First Trust Bank
AIB Group (UK) Plc.
Registered Office
4 Queen's Square,
Belfast
BT1 3DJ.
