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In Focus

What Is an Environmentally-Friendly Credit Card?

Hands, Protection, To Protect, Tree, Globe, Earth

{Whenever you need to spend money, why not keep an environmentally-friendly credit card in your wallet and, at the same time, invest in a greener future?}

Fighting climate change starts in our own backyards. Maybe you maintain a vegetable garden or even ride a bicycle to work everyday. While it may seem like that’s all you can do to contribute, there are even simpler ways to make a difference. Imagine fighting climate change every time you make a purchase with your credit card—a card that’s environmentally friendly. An environmentally-friendly credit card can be environmentally-friendly in terms of being made of biodegradable materials, or in the sense of its use and impact. Let’s explore the impact these cards can have on our planet.

How are credit cards bad for the environment?

By the year 2025, Statista reports over “30.6 billion” credit, debit, and prepaid cards will be in circulation around the world. Unfortunately, most traditional credit cards are made of polyvinyl chloride (PVC) plastic. This is the same material that floods our landfills and is difficult to incinerate without releasing toxins into the atmosphere.

Physical material

Petroleum is the core material in most traditional PVC-made credit cards. Known for its resistance to recycling, environmentally-friendly card issuers are now replacing this “first-use” plastic with biodegradable alternatives, such as polylactic acid (PLA), which is recyclable and non-toxic. Even better, some companies are molding their cards from plastic waste material harvested from the ocean. So, instead of transferring countless tons of ocean plastic directly into a landfill, it’s repurposed into an environmentally-friendly credit card.

Connections to the fossil fuel industry

The connection between “big bank” card issuers and the fossil fuel industry is no secret. In fact, according to a report issued by the Rainforest Action Network organization, since 2016, banks and investment firms from around the world have invested close to $4 trillion dollars in the fossil fuels industry. At the same time, their eco-responsible competitors are fighting even harder to offset that damage through eco-friendly investments.

What do environmentally-friendly credit cards do differently?

Let’s take a look at some of the eco-responsible incentives some cards are rolling out.

Eco-friendly partnerships

Instead of lending or investing your annual fees or monthly interest to big oil or jet fuel manufacturers, eco-responsible financial institutions are often focused on partnerships with environmental non-profit groups and carbon-offsetting initiatives, such as reforestation projects and renewable energy advocates. These are partnerships that will help us edge closer to carbon neutrality and minimize our collective carbon footprint as much as possible.

Commitment to minimizing our carbon footprint

Offsetting our carbon emissions can be an important part of fighting climate change. One of the ways some financial institutions such as Aspiration do this is by investing in reforestation projects. Trees are one of the most effective ways to pull CO2 out of the atmosphere and offset the damage we do everyday.

How do environmentally-friendly credit cards work?

An environmentally-friendly credit card works the same way as any other credit card, only it can actively offsets your carbon emissions and minimizes your carbon footprint, all with a single swipe.

Card-holder incentives

Environmentally-friendly card issuers understand that you have options when it comes to choosing the greenest card for your wallet. That’s why eco-incentives are even more important than your typical reward-points sign-up bonus or low introductory APR offer. From eco-rewards for achieving carbon neutrality, to choosing which nonprofit you support with every purchase, to ultimately shrinking your carbon footprint, it’s now easier than ever before to choose a card that aligns with your moral and financial values.

Carbon neutrality

The ability to see the size and extent of your carbon footprint could be right at your fingertips – beginning with what you spend with your credit card and who you spend it with. With the touch of an app, cardholders can study their spending trends and a store’s commitment to fighting climate change, leading to more eco-friendly choices over time.

The top 5 most environmentally-friendly credit cards of 2021

Aspiration Zero

Protecting its eco-focused mission from the fossil fuel industry and committing to a greener, sustainable future, Aspiration tops the list with its upcoming environmentally-friendly credit card, Aspiration Zero. With its motto, “Put your money where your values are,” Aspiration offers its cardholders the best of both worlds, even if we can only inhabit one. Of course, a low APR and annual fee are enticing, but more importantly, its commitment to literally planting your money into the soil and back into your pocket is what separates it from the rest. "We have a responsibility as a company to help the planet," says Aspiration CEO Andrei Cherny, "and we’re bringing this card to people who feel they have a responsibility, too." Cardholder Benefits:

Reforestation: Every purchase you make of $1.50 or more, Aspiration, with its partners, the Arbor Day Foundation, One Tree Planted, and the Eden Project will plant a tree in your name, which will offset your carbon emission for that purchase.
- As an added bonus, if you choose to round up your purchase you can opt for Aspiration to keep the difference, and it will plant another tree.
An app to track your carbon footprint: Aspiration’s app can help you to assess the carbon footprints of the companies you purchase from, helping you to make greener decisions and eco-friendly decisions for yourself and the planet.
Carbon-neutral incentives: For every month you reach carbon-zero status, Aspiration will reward you with up to 1% cash back on all of their purchases.

Doconomy’s DO Black card

Doconomy has launched this biodegradable card made of PLA that supports eco-initiatives in developing countries, such as developing windmill farms in India. Its focus is to make fighting climate change a transparent process, and that begins with its Planet Loyalty program – which asks that merchants volunteer to share their carbon footprint for all of their products and what it’ll take to offset those emissions. Cardholder Benefits: Because of its Planet Loyalty program, cardholders will receive a categorized breakdown of the carbon footprint of multiple companies and products where they use their card. Also, once a cardholder reaches their monthly CO2 cap, they won’t be able to continue using their card.

Amalgamated Bank credit card

With no connections to the fossil fuels industry, and by using 100% renewable energy sources in its brick and mortar locations, Amalgamated’s mission is “to be America’s socially responsible bank empowering organizations and individuals to advance positive social change.” This means not only is it committed to shrinking its carbon footprint, but it also invests in nonprofits that focus on fighting for social and racial justice. Cardholder Benefits: In addition to partnering with a credit company committed to environmental and social justice, there are a few practical perks for a future cardholder. For example, anyone interested in a non-secured credit card can forego an annual fee upon approval. Also, its Maximum Rewards Mastercard boasts a 0% introductory APR period for the first 6 months. Note, this will change to 18.24-28.24% afterward, depending on your credit worthiness.

Mechanics and Farmers (M&F) Bank personal credit card

Established in 1907, M&F is one of the oldest Black-owned, independent banks in the US. M&F is committed to community development and claims to “recycle 83%” of all deposits received “back into the communities we serve in the form of loans,” as in loans to individuals, community businesses, and even local nonprofit organizations. Cardholder Benefits: While M&F offers several credit card options, most of the benefits associated with them focus on travel perks and a lack of international transaction fees. Its most popular card, the Platinum Payback Mastercard, comes with no annual fee, and a rewards program that for every $1 you spend, you’ll receive one point. You can then spend those points in its Perks Points Mall, or receive a cash-back equivalent.

Green America Visa card

A card created by TCM Bank, the Green America Visa card aims to bring attention to climate change and ethical consumerism. Cardholder Benefits: Green America is devoted to a number of eco-friendly initiatives, including conservation and clean air. If you sign up for this card, you’ll enjoy the option to donate a percentage of each purchase to Green America’s eco-efforts. New cardholders will also enjoy 0% APR for the first 12 months (this will change to 9.99-17.99% afterward), and there’s no annual fee associated with this card.

The greenest card is the best, sustainable choice

While a cash-back offer or a significant number of sign-up bonus points may attract you to one credit card company over another, determining just how environmentally-friendly your card is could be the first step to investing in a greener future. Aspiration Zero is in its early access phase, so, in the meantime, you can join its waiting list and experience the early benefits of an environmentally-friendly credit card that will plant its promises where it matters the most.

ByRobert Kelley

September 19, 2021

5 Responsible Credit Card Companies You Should Pay Attention To

Photo by Gene Gallin on Unsplash

Having recently recorded some of the highest average global temperatures in the last hundred years, the average rise in temperature is causing scientists to worry about the future of our planet. Experts forecast that over the next 30 years, rising global temperatures will cause significantly more wildfires, floods, and droughts throughout the world. This is why many consumers are looking towards more eco-friendly banking and credit options.

Credit card companies and responsibility

One of the large motivators behind change is the issue of responsibility.

For years corporations have gotten away with being able to pollute as much they want without any significant consequences. Left unchecked, many of these corporations will likely continue to emit large levels of carbon dioxide without any sense of responsibility. For years these businesses have been financially backed by some of the biggest banks that not only invest in fossil fuel projects but produce the credit cards that Americans use for everyday purchases. While it is true that governments play a crucial role in enforcing corporate accountability, it shouldn’t be the only organization that keeps polluting industries accountable. Much of the account needs to fall on the shareholders of large companies. With that in mind, we’ve begun to see a rise in the number of investors who choose to invest in companies with sustainable environmental practices.

Impact Investing

Impact investing has become much more popular throughout the last decade. This form of investment focuses on the social and environmental practices that companies engage in, and the rise of this type of investing is seen as one of the most underutilized ways of combating climate change and holding corporations accountable. When investors vote with their dollars, it can create an incentive for old polluting industries to engage in more environmentally sustainable practices. Without the support of the investment community, companies can be put in a position where they have to adapt to our changing social climate. This can then lead them to put a greater emphasis on finding more sustainable forms of energy while also minimizing their overall emissions. Along with this new trend of impact investing, is a call for the creation of international sustainability metrics. These proposed metric standards will measure polluting corporation’s energy consumption while also taking into account the amount of carbon they emit in addition to the impact their pollution has on our natural ecosystem. This proposal would likely be enforced similarly to financial regulations and would be overseen by national regulators.

Beware of greenwashing

Greenwashing is when a company advertises itself as being “green” and eco-friendly but doesn’t change its business or processes to actually do so. Many companies recognized that when “being green” and sustainable became popular with consumers, they needed to change their image. However, if all they changed was their image, then this is likely a case of greenwashing. Unfortunately, many big banks have been caught not backing up their acclaimed values with their investments. JP Morgan Chase is one of the top financiers of major fossil fuel projects, from arctic oil and gas to deep-water drilling. In fact, in 2019, they spent nearly $65 billion. Citi, Bank of America, and Wells Fargo are other big banks that invest in fossil fuel projects. If you want to be certain that the bank you’re working with is ethical and eco-friendly, there are a few things to look for. One is if they are a registered B-Corp, as these banks are required by law to consider the impact of their actions on the environment, community, suppliers, customers, and employees. Banks can also be CDFI certified financial institutions. These banks are committed to serving and empowering economically disadvantaged communities. Finally, there’s the GABV (The Global Alliance for Banking on Values), whose banks are part of an independent network of ethical banks “using finance to deliver sustainable economic, social and environmental development.”

Credit cards – the catalyst of change

In this day and age of contactless and mobile payments, the credit card industry has grown significantly. Many companies are working towards a better tomorrow by making changes to their materials, their smartphone app options, and more.

Materials used to make credit cards

One of the biggest issues with credit cards is that they have always been made of plastic. Traditionally, they were made with “first use” plastic but many companies have moved to recycled plastic. While recycled plastic is still plastic, at least it is reused. Some companies are taking this one step further by using recycled ocean plastic or fully biodegradable materials in place of plastic. Metal cards have also become popular. These are much more durable, last longer than plastic cards, and are also recyclable. Offering digital payment methods and giving the consumer the option to opt out of automatic card replacements can be another great way for a bank to limit its environmental impact.

How spending needs to change

One of the best ways to make an impact on the environment is to change your personal spending habits, as little changes in your daily life can go a long way in helping out the planet. Consumers are often simply not aware of the impact they are having on the planet through their purchases. Much of today’s technology is not easy to recycle due to the chips and components they are made from. Banks that offer a way to track your spending and the effect it has on the environment can help to increase consumer awareness and visibility into the environmental impact of purchases.

5 credit companies paving the way

Here are five credit card companies that are paving the way in ethical and environmentally-friendly banking.

Amalgamated Bank Maximum Rewards Mastercard

Amalgamated is a B-Corp and GABV member that offers a variety of accounts and services in addition to credit cards. They are net-zero and 100% powered by renewable energy, and their investments are fossil fuel-free. They also don’t invest in any businesses involved in tobacco, weapons, or private prisons. Their credit card offers no annual fee and 1.5% cashback on every purchase. Travel rewards are available as well.

Green America Rewards Platinum Visa

Green America is a nonprofit organization with a card issued by TCM bank. Green America supports fair trade, clean energy, and eliminating GMOs from the food supply. Their card has no annual fee and 9% introductory APR on purchases and balance transfers for 12 months. Customers earn one point per dollar on purchases with no cap on points you can earn, and points can be redeemed for travel rewards.

Amazon Watch Rewards Platinum Visa

Amazon Watch is a nonprofit dedicated to protecting the rainforest and indigenous people of the Amazon basin. The card is issued by TCM bank, and users can earn one point per dollar which can be redeemed for travel rewards.

M&F Bank Personal World Mastercard

M&F Bank is an independent community bank that is CDFI certified and Black-owned. Their card has a $35 annual fee and a 12.24% APR on purchases. Customers earn one point per dollar on purchases and rewards are redeemable for travel.

International Living Future Institute’s Affinity Card

International Living Future’s Visa platinum card is all about redefining the green building movement. The mission is to offer green building and infrastructure solutions that will help create a better world. There is no annual fee, and cardholders earn one point per dollar on net purchases that can be redeemed for merchandise or travel rewards. The card is issued by TCM Bank.

The Aspiration Zero card can help you shop responsibly

The Aspiration Zero is a carbon credit card issued by Aspiration, a sustainable neobank that tracks the carbon emissions of your purchases. With each purchase, Aspiration will plant a tree to offset your carbon footprint. After 60 or more trees have been planted through your monthly spending, Aspiration considers you to have reached your monthly carbon neutral goal. As a reward, you will receive 1% cashback on all purchases made that month. Try the Aspiration Zero today to start fighting climate change with your money.

ByRobert Kelley

September 17, 2021

How to Get Credit Card Rewards to Work For You – And the Planet

With so many credit rewards out there, you can choose the kind of rewards you’d like to receive, but it can be tough to navigate the numerous options and endless small print. Let’s explore the popular credit card reward schemes of 2021, and how you can utilize your credit card to benefit both your bank account and the planet.

Popular credit card rewards for 2021

Chase Sapphire Preferred Card

The Chase Sapphire Preferred Card is perhaps one of the most popular rewards programs available. Offering a welcome bonus of 100,000 bonus points after you spend $4,000 (available to those with excellent to good credit scores), the card offers frequent spending with redemption options for travel and dining. Plus, the card offers a wide variety of discounts on airfare, car rentals, and cruises, all for a $95 annual fee.

Discover it Cash Back

If cashback is important to you, then the Discover it Cash Back card is an option that not only has no annual fee but also offers a cashback match. This card is great for those who spend moderately on their card and activate the 5% rotating categories and the spending cap. This can allow you to earn more outside of the standard 1% cashback earning rate.

Citi/AAdvantage Executive World Elite Mastercard

For those who like to fly American Airlines, this Citi card can be the ultimate in airline card providing access to the complimentary Admirals Club lounge access as well as extra perks such as VIP check-in, priority boarding, concierge service, and a free checked bag. The downside would be the $450 annual fee, but if you use the lounge, you may offset that quickly. The welcome bonus is 50,000 miles.

Rewards for the planet

The one thing many of the cards above don’t offer are planet-friendly rewards. While searching for an environmentally-friendly credit card, you may want to pay attention to the following:

Beware of greenwashing

Greenwashing is defined as “disinformation disseminated by an organization to present an environmentally responsible public image.” In short, beware of companies that talk the talk, but don’t walk the walk.

Study your bank

The most obvious detrimental effect that credit cards have is the simple fact that they’re primarily made from plastic which often ends up being disposed of and entering a landfill. But the damage of plastic credit cards extends far beyond the materials they’re made of. A report titled Banking on Climate Chaos 2021 identified that 60 of the world’s largest commercial and investment banks had collectively financed $3.8 trillion into fossil fuel projects from 2016 to 2020. This is why it can be important to do your research when exploring the financial institutions – and credit card rewards – that you want to choose.

Understand key terminology

Carbon neutral, zero, or negative – what’s the difference? To many of us, these terms seem like they can be interchangeable. However, each means something different in the context of understanding the environmental benefits of your bank or credit card:

Carbon Neutral: Carbon neutrality refers to offsetting the amount of CO2 emissions produced due to human consumption and production. We can offset these emissions by engaging in eco-friendly activities like recycling and planting trees which can overcompensate for the amount of pollution that gets trapped in the atmosphere.
Carbon Zero: To reach carbon zero, we would have to eliminate the release of CO2. If this were our reality, there would be no need to offset carbon emissions.
Carbon Negative: The most challenging level to achieve, carbon-negative would mean we’ve reached a point where we’ve been able to remove more CO2 from the atmosphere than we have released.

When researching financial institutions, credit cards, and sustainable finance in general, it can be helpful to have a clear understanding of exactly what benefits they are claiming to provide for the planet.

Aspiration Zero paving the way

With Aspiration, you can have the peace of mind that your deposits won’t be used to fund the fossil fuel industry. Rather, each purchase you make using our Aspiration Zero credit card will result in a new tree planted to contribute to reforestation efforts worldwide. In addition, Aspiration will provide you with an overview of the sustainability metrics for each store you shop at, allowing you to better understand which stores engage in sustainable environmental business practices. Aspiration rates companies based on the extent of their carbon footprint while also taking into consideration how the company treats its employees. This can empower you to make greener purchases from stores that care about the environment. But what do credit card rewards for the planet look like?

Swipe, pay, plant a tree

Every purchase made using your Aspiration Zero card will go toward the planting of a new tree. This can go a long way toward getting the planet closer to a carbon-neutral status. Our card also offers you the ability to opt into our “keep the change” program. If you choose to participate in this offering, every purchase of at least $1.50 will be rounded up to the next whole dollar amount allowing Aspiration to plant a tree with the difference. By choosing to make purchases with this card, your spending could easily amount to 60 trees planted per month which would allow us to reach carbon neutrality.

Paperless billing and an app to track your spending’s carbon footprint

Dedicated to our quest for carbon-neutrality, we at Aspiration believe in paperless billing. Having developed an eco-friendly app, you will be able to use it to track all your purchases as well as see which stores have the best carbon footprints. Having all of this information in an accessible app can ultimately help you make more environmentally conscious purchases.

How to apply for the Aspiration Zero

Early release phase

Aspiration Zero is set to release soon, but if you’re interested in signing up right away, there’s a waiting list. The process is to:

Register your email here.
Once registered, Aspiration will plant ten trees on your behalf, regardless of the outcome of your application.
After submitting your registration details, Aspiration will give you a link to share with your friends. And for each friend who registers, Aspiration will plant a further 10 trees – regardless of whether they end up getting the card!

Aspiration Zero rewards

Eco incentives: For every purchase made, Aspiration will plant one tree. If you choose to opt into our “keep the change” program, we will plant an additional tree for each purchase you decide to round up.
Cashback: As soon as you open an account with Aspiration, you will immediately receive .5% cashback on all purchases. And better yet, after you’ve reached a carbon-zero status – which means you’ve planted at least 60 trees – you will receive up to 1% cashback for every month you reach that level.
Low annual fee: With Aspiration, you can expect a low $60 annual fee. With many competitors charging close to $100 for annual fees, you can feel good about saving money and saving the planet.

Aspiration Gives Back

A Greener Future: Aspiration has partnered with many eco-charities and causes including One Tree Planted and the Arbor Day Foundation. These two reforestation non-profit organizations will plant one tree on your behalf with every purchase of $1.50 or more.
Dime's Worth of Difference: For every dollar Aspiration earns, it will donate 10 cents to eco charities that focus on sustainability, reforestation, and economic development.

Swipe your way to a greener planet

With the climate crisis reaching unprecedented levels, now is the time to make an impact. By choosing Aspiration Zero, you can contribute to a more sustainable future and put an end to the carbon emissions that are destroying our planet. To sign up for the Aspiration Zero, or to learn more about the rewards of sustainable finance, reach out to Aspiration today.

ByRobert Kelley

September 16, 2021

How Aspiration Zero is the Carbon-Neutral Credit Card You Need

Ecological Footprint, Climate Protection

Image by Colin Behrens from Pixabay

As forest fires blaze and temperatures rise to record-setting levels, reducing our carbon footprint is more important than ever. For many of us, living an eco-friendly lifestyle just doesn’t feel like it’s enough to make a real difference on a daily basis. Imagine, for every purchase you make daily, you could swipe your way to a greener planet. A credit card that offers eco-benefits from planting trees with every purchase you make to supporting a variety of eco-causes. Aspiration Zero is a carbon-neutral credit card on the front lines of reducing our carbon footprint by doing just that. "We have a responsibility as a company to help the planet," says Aspiration CEO Andrei Cherny, "and we’re bringing this card to people who feel they have a responsibility, too."

What does it mean to be carbon-neutral

Is net-zero carbon possible?

While it’s pretty difficult to completely avoid releasing carbon dioxide (CO2) into the atmosphere, carbon-neutrality can be a more attainable goal. Simply put, all of us - individuals and industries alike - can reach net-zero carbon by measuring what we’re releasing and then focusing on eco-projects such as planting trees, recycling, and so on, to make up for the harm we’ve caused. Unfortunately, we’re a long way from getting anywhere near carbon-neutrality, but there are ways to get us closer every day—for example, by making purchases from sustainable businesses or donating to environmental non-profits. Even better, each of us can make simple, eco-friendly changes in our daily lives, by walking to work or buying locally sourced produce, to name a few. But the fact remains, we can do even more - starting with our credit cards, what we buy with them, and especially where we use them.

How credit cards can harm the environment

It’s no secret that a credit card is made of plastic (most commonly PVC), so manufacturing it - and later disposing of it - can harm the environment. However, a card’s harm can go far beyond the material it is made from. Did you know you could be using a card that also supports fossil fuel production? With many large financial institutions investing in non-environmentally-sustainable projects, it can be tough to discern exactly where your money is going. That’s where the Aspiration Zero carbon-neutral credit card is different. Not only is Aspiration Zero a biodegradable card, but the neobank Aspiration only invests in eco-friendly causes - unlike the countless other financial service providers that support the fossil fuel industry with billions of dollars every year.

Carbon-neutral, net-zero carbon, or carbon-negative: what’s the difference?

For most of us, carbon-neutral, net-zero carbon, and carbon-negative may seem like different terms for the same idea, but there are a few key differences among them: Carbon neutral: Carbon neutrality refers to the process of offsetting carbon emissions through carbon-reducing activities, such as planting trees. Net-zero carbon: Net-zero carbon is a state in which we don’t release any CO2 at all, meaning there’s no need to actively offset our CO2 levels. Carbon negative: Arguably the most difficult level to achieve, carbon-negative refers to a situation in which we’re able to remove even more CO2 from the atmosphere than we’re actually releasing. In other words, here, we’re able to create a positive, sustainable outcome for the environment.

How the Aspiration Zero credit card can help you achieve carbon-neutrality

Greener and smarter shopping

Rest assured, any deposit you make with Aspiration won’t be used to fund the fossil fuel industry or big oil companies. Instead, in addition to planting a tree on your behalf for every purchase you make with the card, Aspiration will also provide you with a breakdown of how sustainable the stores are where you make your purchases. Each company will be rated based on the extent of its carbon footprint and social factors such as how it treats its employees, helping you to make wiser, greener purchases from environmentally-conscious stores.

Swipe, pay, and plant a tree

For every purchase you make, Aspiration will plant a tree, getting you - not to mention, the planet - even closer to carbon-neutral status. What’s more, for every purchase of at least $1.50 or more, you can opt for Aspiration to “keep the change.” This means the price of your purchase will be rounded up to the next whole dollar amount—and Aspiration will plant a second tree with that difference. Even better - if you plant a total of 60 trees each month (the number Aspiration has calculated to equate to carbon neutrality) - you’ll receive an interest boost on your purchases.

Paperless billing and an app to track your spending’s carbon footprint

Nothing says eco-friendly more than an app that allows you to not only pay your monthly payment but also track your carbon footprint along the way. You can easily view this data along with any spending trends that might help you minimize that footprint even more. Aspiration provides you with all of the information you’ll need to make smarter, greener decisions for yourself and the planet.

Take the guilt out of your commute

Many of us refill our gas tanks several times a month. And while driving is often necessary and, in many cases, unavoidable, we all know it isn’t the most environmentally friendly. With the Aspiration Planet Protection program, your gas purchases (particularly, your carbon output) will be measured and then offset when Aspiration invests in eco-friendly alternatives that’ll compensate for your commute time and exhaust emissions. So, while we carry on with our daily commute, Aspiration has our (and the planet’s) back.

How to apply for the Aspiration Zero

Early Release Phase

You can currently sign up for the early release of the Aspiration Zero by:

Registering your email here.
When you register, Aspiration will plant ten trees in your honor, regardless of the outcome of your application.
Once you submit your registration details, Aspiration will give you a link to share with your friends. Here’s the best part— for every friend who registers for Aspiration Zero, 10 trees will be planted in their honor.

Rewards offered on the card

Eco-incentives: For every purchase you make Aspiration will plant a tree and give you the option to plant a second (by rounding up your purchase to the nearest dollar).
Cashback: From the get-go, Aspiration will give you .5% cashback on all of your purchases. If you reach carbon-zero status each month, Aspiration will give you up to 1% cashback every month that you achieve this status.
Low, annual fee: A $60 annual fee is all it takes to invest in a greener lifestyle, and ultimately, an eco-friendly planet.
A greener future: Aspiration has partnered with numerous eco-charities and causes, including One Tree Planted and the Arbor Day Foundation - reforestation non-profits that will plant a tree in your honor for every purchase you make of $1.50 or more.
Dime's Worth of Difference: For every dollar Aspiration earns, it will donate 10 cents to eco-charities that focus on sustainability, reforestation, and economic development.

We can help you swipe your way to a greener planet

While the Aspiration Zero card hasn’t been released just yet, you can join the waiting list here. We only have one life, and one planet, and the future is green - to learn more about sustainable financing reach out to Aspiration today.

ByRobert Kelley

September 13, 2021

What an Eco-Friendly Credit Card Does That Others Don’t

Google Announces Billion Dollar Investment in Cloud and Renewable Energy - Olhar Digital

While most credit cards offer cash back rewards or travel bonus miles - among other incentives - for their card-holders, the Aspiration Zero credit card takes incentives to the next level with rewards for you and the planet. Unlike its competitors that frequently fund coal mining and fossil fuel projects, Aspiration Zero is a genuine, eco-friendly credit card that helps its clients offset their carbon footprint by planting trees and investing in eco-friendly charities.

Eco-friendly cards

Is an eco-friendly credit card even a possibility?

With global temperatures rising to record-breaking levels, it’s more important than ever to find ways - big or small - to do our part to save the planet. An eco-friendly credit card is one way we can make a difference, one payment at a time. An eco-friendly credit card provider typically donates a percentage of every purchase to an eco-charity that fights for any number of social causes, from fighting global warming and economic injustice, to replanting trees to offset the carbon we emit into the atmosphere. The Aspiration Zero goes one step further by planting a tree for every purchase of $1.50 or more that you make. The goal of this is to offset the CO2 you produce and help you achieve a carbon-neutral lifestyle every month. By investing in eco-friendly causes and refusing to fund the fossil fuel industry, eco-friendly cards are now more important for our planet’s future than ever before!

An easy way to save the planet?

Imagine spending your money with a clear conscience, knowing that every time you use your credit card, your provider is fighting for a healthier, sustainable planet by donating a percentage of your purchase to eco-charities. Not to mention, at the same time, your personal carbon footprint will shrink, allowing you to get closer to a carbon-neutral lifestyle. Many credit card companies are even offering cards made from recycled plastic (PETG or HDPE) that can be sourced from ocean plastic or other recycled or repurposed plastics. With billions of credit cards in the wallets of people all over the world, these eco-friendly cards can help free up space in our landfills. On top of that, these cards are easy to use, and an effective way to fight climate change. Since a true, eco-friendly card has zero ties to the fossil fuel industry (and instead is aligned with eco-charities and non-profit organizations that are benefiting the environment), simply making a purchase is a simple and effective way to give back to the planet and fight for its future.

How green is your card?

How can you tell how green your credit card actually is? A little digging and background reading may be in order - especially in the fine print. Here are a few details to look out for:

Which eco-charities does your card provider support, and how does it support them - i.e., what percentage of their profits or customer fees do they donate to the organization?
What does the card provider’s carbon footprint look like? Are they connected to big banks, and the fossil fuel or coal mining industries, or are they funding politicians who actively legislate against climate change?

Benefits of eco-friendly cards

General material and investments

Eco-friendly credit cards may be made of plastic, but many of them are in fact biodegradable or created from ocean plastic or recycled materials like HDPE - a more eco-friendly plastic. While, ideally, a card made of metal - or even be fully accessible virtually - small changes such as these can add up in the long run. Here are a few additional benefits that an eco-friendly credit card might have:

A low or 0% APR
A low or no annual fee
Paperless billing
.5%-1% cashback
For every purchase, the card provider may donate to an eco-charity or even plant a tree on your behalf
An alliance with eco-charities that are fighting for a greener future.

Comparing eco-friendly credit card options

Not all eco-friendly credit cards are created equal. In fact, some banking services barely donate anything to the charities they claim to support. Others, such as Bank of America, have released an eco-friendly card - while continuing to remain one of the largest investors in the fossil fuel industry. Here are what a few other card issuers or financial service providers are offering with their eco-friendly credit cards: Green America Rewards Credit Card This non-profit is focused on clean energy and being an advocate for green businesses. With no annual fees charged to the cardholder and a 0% introductory APR, this credit card could be a great choice. League of Conservation Voters Visa Platinum In addition to an annual fee and 9.99%-17.99% APR, a percentage of every purchase a cardholder makes is donated to the League of Conservation Voters, which is a group dedicated to clean energy, environmental justice, and other eco-causes. Bank of America’s BankAmericard Cash Rewards Visa for Defenders of Wildlife It’s difficult to ignore Bank of America’s clear ties to the fossil fuel industry, but with its eco-friendly card, it claims that “$1 is donated to Defenders of Wildlife when you open your account and an additional $0.05 will be contributed on your behalf for every $100 you spend.”

Take it to the next level with Aspiration

Unlike other financial service providers, the neobank Aspiration has zero connection to the fossil-fuel industry. In fact, it actively fights it by donating 10% of every dollar its customers pay to eco-charities that focus on clean and renewable energy sources. In addition to a low annual fee and a low annual APR%, Aspiration offers a 1% cash-back incentive to its customers for every month they reach carbon-zero. With its user-friendly app, Aspiration promises each customer the ability to track their daily spending and the impact their purchases have on the environment. What’s more, with every purchase, Aspiration promises to plant a tree, offsetting the carbon you emit. And, if you choose to round up your purchase (for example, a purchase of $23.77 could be rounded up to $24.00), Aspiration will keep the change and plant another tree in your honor. Small changes can lead to bigger, greener results.

Your money’s never been greener

If you’re looking for an authentically eco-friendly credit card, the Aspiration Zero could be a great choice for you - and the planet! In anticipation of its upcoming launch, Aspiration Zero allows you to register your email and join its waiting list. To find out more about sustainable finance, or to register for the Aspiration Zero, check out Aspiration today!

ByRobert Kelley

September 13, 2021

The Best Credit Card Sign-up Bonuses of 2021

With the global economy reopening after a COVID-induced shutdown, many credit card companies are offering enticing sign-up bonuses. While thousands of bonus points and introductory cashback offers are often the go-to bonuses credit card companies offer, some companies are breaking new ground by offering eco-friendly incentives and paving the way to a greener future for all of us.

Sign-up bonuses

We’ve all seen them—sign-up bonus offers from a sea of credit card issuers, promising bonus reward points, travel miles, or lucrative cash-back offers for the first 12 months. But not all sign-up offers are created equal. With hundreds of seemingly perfect bonuses up for grabs, it can be tough to try and sift through to find the right card for you.

Here’s why sign-up bonuses matter

Most card issuers offer the same basic type of sign-up bonus to their future cardholders - usually some kind of financial, points-based reward. Whether this means travel miles or points that you can accumulate and later cash-in for hotel stays and concert tickets, there’s an ideal sign-up bonus for everyone. Some sign-up bonuses, however, come with a catch, so it’s important to read the fine print. For example, it may appear that a company is offering you 100,000 bonus points/$1250 for simply signing up, but when you read the fine print, you might discover that you only receive those points after you charge $4k on your card within the first three months of opening your account. To make sure you sign up for the card that ticks all of your financial (and ethical) boxes, we’ve broken down the types of bonuses that might appeal to you.

Different types of bonuses

Here are the most popular bonuses that credit card companies tend to offer new members:

Travel miles

With the travel industry reopening post-lockdown, it’s perhaps not surprising that countless people are experiencing travel fever! From Rome to Bangkok to San Francisco, travel miles are a hot commodity, (and a welcome invitation) back to our pre-COVID travel days. Not to mention the additional perks that can come with travel miles - priority boarding, access to VIP airside lounges, first-class upgrades, and so much more. A promise of 60k-100k travel miles can be pretty tempting - and it could be a very good deal! However, it’s usually a good idea to be sure to read the fine print, as this type of reward is often tied to how much you spend within a certain time frame from opening your credit card.

Cash-back rewards

For every dollar you spend, many credit card companies will credit your account and put money right back into your pocket. And a welcome bonus of 5% cashback for a limited amount of time is the perfect way to bring a new cardholder on board. As an incentive for doing your normal shopping or paying your bills, card issuers will return a percentage to you—often anywhere between 0.5% and 5%, cashback. Providing you don’t use this as an excuse to overspend, cashback can be a great perk to a new credit card.

Reward points for hotel stays, dining, events, and more

50,000 reward points to be used on anything from a 3-night stay in a luxury hotel in Paris, to a five-course dining experience at a Michelin-star restaurant in downtown Chicago - sounds pretty good, right? Many credit card issuers cast this type of bait into the sea of card applicants, hoping to snag as many new clients as possible. One thing to keep in mind when faced with such an appealing offer is that there may be a limited-time spending minimum to get that reward. As always with sign-up offers, be sure to read the fine print. If you’d likely spend that amount within the time period regardless, then this could be a great deal to take advantage of.

Free access to your credit report and/or score

A useful first step towards financial responsibility for many is being able to access their credit score. Some credit card issuers offer free access to your credit score and reports across all three credit bureaus. For example, the Capital One Quicksilver One credit card offers access to CreditWise, which allows you to view your credit score and all beneficial or damaging factors impacting your credit. Ready for the best part? Even if you don’t get approved for the Quicksilver One (or decide not to sign-up at all), the good news is that CreditWise is available to the public, regardless of whether you’re a Capital One cardholder.

Eco-incentives

What if your new card issuer offered a more meaningful incentive? For example, simply for joining the waiting list for their Aspiration Zero credit card, the neobank Aspiration will plant ten trees in your honor. And, as an added bonus, for anyone who also joins with your personalized referral link, Aspiration will plant an additional ten trees - now that’s a perk!

Introducing the eco-friendly credit card

Financial rewards and incentives are always enticing, and they can improve our daily lives in a variety of ways. However, there are a whole range of other incentives available to the sustainably-minded consumer. Some card issuers, like Aspiration, offer eco-friendly credit cards and some of their perks include being able to track your carbon footprint every month on a free app (not to mention the carbon footprint of the merchants you buy from). Not only will you learn to shop smarter and greener, but, for every purchase you make, a tree will be planted to offset that purchase. Sometimes, the best rewards come in green packages.

Best sign-up bonuses in 2021

If you’re struggling to wade through the sea of credit card offers and sign-up perks, here are the top 5 sign-up bonuses available in 2021:

The Chase Sapphire Reserve card

Perks: Gain 60,000 bonus points when you sign-up. The fine print: To earn those 60k bonus points, you must spend at least $4k in the first 90 days of opening your account. Also, it’s worth noting that this card has a $550 annual fee. If you’re a frequent traveler, this may be worth it, but it’s worth doing the math here!

The Citi Rewards+ card

Perks: Gain 20,000 bonus points (approximately $200) when you spend $1000 within the first three months of opening your account, which can be exchanged for a variety of gift cards. Earn double points with the ThankYou® Points program to use at a range of restaurants. What’s more, this card has no annual fee. The fine print: For the first 15 months, you’ll get 0% APR. After this - depending on your credit rating - your variable APR could be anywhere from 13.49%-23.49%.

The Platinum Card from American Express

Perks: Gain 100,000 Membership Rewards Points if you spend $6000 in the first six months of opening your account. If you book your flights directly with an airline carrier (or with the help of American Express Travel) you’ll get 5x the number of Membership Rewards points. The fine print: The annual fee of $695 is higher than most cards, but if you’re a frequent traveler, you may be able to justify this cost when you consider the list of awards and exclusive member benefits available to you.

Marriott Bonvoy Boundless™ Credit Card

Perks: Marriott is also offering free, three-night hotel stays (worth over $1300) if you spend at least $3000 within the first three months of opening your card account. You could also earn 10x the bonus points for every dollar you spend at the gas pump or grocery store in the first six months of opening your account. Also, for all of you globe-trotters, there are no foreign transaction fees, so you can use this card without the added worry of racking up fees abroad. The fine print: There is a limit of $2500 for the 10x bonus points program, and these offers also aren't available to any current or previous cardholder.

Bank of America® Unlimited Cash Rewards credit card

Perks: Unlimited 1.5% cashback on all purchases without any limits, and a $200 rewards bonus if you spend $1,000 within the first 90 days of opening your account. This card also does not charge an annual fee. The fine print: There is only 0% APR for the first 15 billing statements. After that - depending on your credit rating - your APR will be anywhere from 13.99% to 26.99%.

Aspiration Zero offers the best sign-up bonus you can get

Unlike other credit card issuers that are tied to “big banks” or the fossil fuel industry, Aspiration Zero is breaking new ground with its eco-friendly credit card. Here are some of the perks:

Aspiration will plant a tree for every purchase you make, allowing you to minimize your carbon footprint.
You can choose to round up any purchase to the next whole dollar amount - and Aspiration will use the difference to plant another tree.
Aspiration’s free, innovative app lets you track your spending and see the carbon footprint of your purchases so that you can make more environmentally responsible purchases in the future.
For every month you are carbon-neutral, Aspiration will give you 1% cashback.

Fighting climate change one swipe at a time

While it may be tempting to sign-up for a credit card that offers thousands of bonus travel miles or a high, cash-back percent incentive, the Aspiration Zero is focused on the bigger, greener picture. By signing up for an Aspiration Zero credit card, you will join the effort to combat climate change and lessen your carbon footprint once and for all. No matter which card you choose, some bonuses are bigger and more meaningful than others. To find out more about sustainable financing - or to sign up for the Aspiration Zero - visit us at Aspiration today.

ByRobert Kelley

September 12, 2021

Where Money Meets Mission

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The top 5 most environmentally-friendly credit cards of 2021

Aspiration Zero

Doconomy’s DO Black card

Amalgamated Bank credit card

Mechanics and Farmers (M&F) Bank personal credit card

Green America Visa card

The greenest card is the best, sustainable choice

5 Responsible Credit Card Companies You Should Pay Attention To

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One of the large motivators behind change is the issue of responsibility.

Impact Investing

Beware of greenwashing

Credit cards – the catalyst of change

Materials used to make credit cards

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5 credit companies paving the way

Amalgamated Bank Maximum Rewards Mastercard

Green America Rewards Platinum Visa

Amazon Watch Rewards Platinum Visa

M&F Bank Personal World Mastercard

International Living Future Institute’s Affinity Card

The Aspiration Zero card can help you shop responsibly

How to Get Credit Card Rewards to Work For You – And the Planet

Popular credit card rewards for 2021

Chase Sapphire Preferred Card

Discover it Cash Back

Citi/AAdvantage Executive World Elite Mastercard

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Study your bank

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Aspiration Zero paving the way

Swipe, pay, plant a tree

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Swipe your way to a greener planet

How Aspiration Zero is the Carbon-Neutral Credit Card You Need

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Carbon-neutral, net-zero carbon, or carbon-negative: what’s the difference?

How the Aspiration Zero credit card can help you achieve carbon-neutrality

Greener and smarter shopping

Swipe, pay, and plant a tree

Paperless billing and an app to track your spending’s carbon footprint

Take the guilt out of your commute

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Comparing eco-friendly credit card options

Take it to the next level with Aspiration

Your money’s never been greener

The Best Credit Card Sign-up Bonuses of 2021

Sign-up bonuses