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
American Express UK
Green/Ethical Products
- Option for card members to redeem rewards points for donations to charitable organizations with an environmental focus.
Ethical Lending or Insurance
Not applicable. The UK company does not offer commercial lending or insurance services.
Human Rights
Not applicable. The UK company does not offer commercial lending or insurance services.
Financial Exclusion
American Express UK’s parent company American Express and Walmart launched Bluebird which provides consumers with an alternative to a traditional debit or checking account. Bluebird offers consumers a payment capability anywhere that the American Express Card is honoured. Bluebird members have access to Purchase Protection, which can provide coverage for accidental damage or theft to eligible purchases within 90 days of purchase, as well as the ability to add checks via smart phones, family sub-accounts and no fee access to cash at 22,000 ATMs for Bluebird members who have enrolled in direct deposit.
No evidence that the company provides direct financial support to or engages in partnerships with Credit Unions and CDFIs (Community Development Finance Institutions).
They provide statements and other documentation in Braille and in audio formats.
In the US, the company has provided financial literacy to teenagers with English as their second language and to disabled adults to help them establish a checking or savings account.
In 2010, American Express supported the Grameen Foundation with $200,000, in order to help local microfinance institutions in Africa, Asia and Latin America. The Foundation provides tiny loans to help people start or expand a small business.
No evidence found that the company invests in or lends at lower rates to financially excluded communities.
Environment
No evidence of an environmental policy found for American Express UK.
However, American Express UK’s parent company American Express’s has an environmental policy which covers the key areas of climate change, energy efficiency, water and waste management.
Additionally, it demonstrates a commitment to continued improvement of its environmental performance.
Carbon Neutral
No commitment to become fully carbon neutral was found.
Equal Opportunities
The company's equal opportunity policy addresses the key issues of race, gender, sexuality and disability.
Women on the Board
Parent Company:
3/15 women hold top level board positions (20%).
Voluntary Standards & Initiatives
No membership of any relevant charters or initiatives found.
Charitable Giving
Parent company American Express donated $25.9 million to charity in 2010.
American Express Paid Sabbatical Program was started in the early 1990s, hundreds of American Express employees throughout Canada, the United Kingdom and the United States have volunteered thousands of hours of their time with community organizations.
The American Express foundation, a New York-based non-profit entity that supports non-profit charitable organizations. To date, the foundation has provided nearly half a billion dollars to hundreds of important causes and programs around the world.
American Express UK
- Credit Cards
- Insurance (Personnel, Travel, Home and Car)
American Express UK
American Express Services Europe Limited.
Registered Office:
Belgrave House,
76 Buckingham Palace Road,
London,
SW1W 9TQ.
