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
Santander Cards UK
Green/Ethical Products
No evidence of specifically green or ethical products found.
Ethical Lending or Insurance
Not applicable. The company does not offer commercial lending or insurance services.
Human Rights
Not applicable. The company does not offer commercial lending or insurance services.
Santander Cards UK’s parent company Grupo Santander will not accept the following customer categories:
- Companies that do not support or respect internationally recognised basic human rights, within their area of influence.
- Companies that do not abide by labour standards, and in particular, those that imposes hard or forced labour on minors.
- Companies that refuse to provide requested documentation or information.
Financial Exclusion
Offers internet services for its credit card products.
Part of Santander UK and the wider Santander Group who provides funding for the Money Advice Trust (MAT), operator of the National Debtline and Business Debtline. These services provide free, confidential and independent advice to consumers and small businesses on how to deal with debt problems.
They also launched an improved ‘Financial Difficulties’ website for providing advice to customers in financial difficulty. Developed a new Financial Difficulties Guide in association with Payplan to provide further advice and support for customers in financial difficulty.
No evidence that the company provides direct financial support to or engages in partnerships with Credit Unions and CDFIs (Community Development Finance Institutions).
However Santander Group through their ‘Affordable Credit’ scheme they provide small loans at reasonable interest rates from credit unions and CDFI’s. Aimed at low income customers in the UK.
No evidence found of Santander Cards UK’s involvement in any microfinance (or microinsurance) projects.
Santander UK provides microfinance loans to customers on low incomes.
Santander Group operates microcredit programmes in many Latin American countries including Brazil, Chile and El Salvador. Santander has over 250,000 entrepreneurs working with microfinance of over €300 million credited.
No evidence found that the company invests in or lends at lower rates to financially excluded communities.
However Santander offers small loans at ‘reasonable interest rates’ via credit unions or CDFI’s.
Environment
Santander Cards UK refers to Santander’s UK policy which covers the key areas of climate change/energy efficiency, water and waste management.
The policy is committed to setting objectives to achieve continues improvement. Regularly reporting on performance to stakeholders. Use of independent review.
Carbon Neutral
No commitment to become fully carbon neutral was found.
Equal Opportunities
Santander Cards UK does not have an diversity policy.
Santander Cards UK is a subsidiary of the Santander Group which has a diversity policy which takes into consideration the key equality issues of race, gender, sexuality, and disability.
Women on the Board
No information found for Santander Cards UK board of directors.
Santander UK:
2/12 women hold top level board positions (17%).
Parent Company:
3/17 women hold top level board positions (18%).
Voluntary Standards & Initiatives
Santander Credit Cards is not a signatory on its own however its parent company the Santander Group is a member of or signatory to the following relevant charter or initiatives:
- The Equator Principles (guidelines from the International Finance Corporation).
- United Nations: Universal Declaration of Human Rights.
- UN Global Compact: United Nations Global Compact.
- UNEP Finance Initiative: Financial Initiative for the United Nations Environment Programms.
- EC Code of Conduct for European companies operating in developing countries.
- OECD Guidelines for multinational companies.
- ILO Tripartite Declaration on multinational companies and social policy.
- Kyoto Protocol on climate change.
Charitable Giving
The Santander UK Foundation provides donations, and undertake volunteering and fundraising for projects that support disadvantaged people.
Santander UK Foundation and the Santander Universities programme provided was £6,008,463 support to the community sector in 2009 This was an increase of 21% on 2008.
Donated £28 million to UK charities since 1990 through the Foundation. In 2009, they made 1,500 donations, to both small local charities such as Scout Groups and large national charities such as Macmillan Cancer Care, totalling over £3.28 million of grants.
In the UK, community activities feature employee fundraising campaigns which provide support to local and national charities. In 2009 they launched their ‘Charity of the Year’ programme, raising £140,000 for Great Ormond Street Hospital and £210,000 for Help the Hospices. In 2010 they raised £380,000 for Cancer Research UK.
Santander Cards UK
Credit Cards
Santander Cards UK
Santander Cards UK Ltd.
Registered office:
2 Triton Square,
Regent’s Place,
London,
NW1 3AN.
