Virgin Money charity credit card to donate up to 1% of card purchases
Howard Lake | 11 March 2010 | News
Financial services provider Virgin Money has announced that its new Virgin Charity Credit Card will donate up to 1% of the customer’s spending on the card to the charity of their choice. The company’s first product since it became a bank, the Virgin Charity Credit Card will also be the first charity affinity card to enable Gift Aid.
The Virgin Charity Credit Card can donate a basic 0.8% of the customer’s expenditure on the card to the charity of their choice. Since it enables Gift Aid for cash back, the first charity affinity card to do so, the total value of the donation can rise to 1%.
Scott Mowbray at Virgin Money, said: “Cardholders will be able to nominate their chosen charity which they can change quickly and easily. As an example we have seen from the recent earthquake disaster in Haiti people are keen to help in cases of dire need and this card ensures they can react quickly. If a customer can’t decide which charity they want their cash back to go to, then our nominated charity will receive the funds.”
The card has a typical rate of 12.9% APR (variable) and offers a lifetime balance transfer rate of 8.9%. It charges a 2% balance transfer fee if the transfer is made within 60 days of the account opening. A 2.98% fee applies otherwise.
Virgin Money last year launched its not-for-profit online fundraising service virginmoneygiving.com, the official sponsorship website of the Virgin London Marathon, Royal Parks Half Marathon and Sony ‘Run to the Beat’.
http://uk.virginmoney.com/virgin/charity-credit-card/
About Howard Lake
Howard Lake is consultant editor of UK Fundraising. He founded the site in 1994 and successfully sold it in 2022. As director of Giving X Ltd he is exploring growing giving on a massive scale.
He is the founder of Fundraising Camp and co-founder of GoodJobs.