Bank of America to offer "green" credit card
By Jeremy M. Simon | Published: April 13, 2007
As part of an environmental initiative launched on March 6, 2007, Bank of America said it plans to offer an eco-friendly credit card later in the year that will provide environmentally friendly incentives and features. For every dollar than is spent on this "green" credit card, Bank of America will contribute to an environmental organization to invest in projects aimed at cutting greenhouse gases.
Meanwhile, Bank of America will establish similar programs under its WorldPoints Rewards for existing cardholders, allowing them to donate their WorldPoints rewards to organizations that invest in greenhouse gas reductions or redeem their points for environmentally friendly products.
Additionally, BofA will offer the chance to trade carbon emissions in an attempt to let clients reach carbon emission "neutrality" via "existing and emerging market mechanisms."
Bank of America's overall plan to spend $20 billion on numerous business activities that include energy efficiency and emissions offsets is just another sign that Wall Street is reacting to concern among the public and investors about climate change, as well as expected federal legislation limiting carbon dioxide emissions.
The bank said its green initiative is the result of an ongoing environmental commitment, and will incorporate environmental considerations into the way Bank of America does business.
CreditCards.com currently offers several Bank of America credit card products that feature WorldPoints, including the WorldPoints Platinum Plus MasterCard and the Bank of America World MasterCard with WorldPoints.
To comment on this story, write Editors@CreditCards.com.
More credit card news.
- Abolish the password? Card issuers are working on that – Credit card issuers and banks aim to phase out passwords over the next few years with the help of biometric authentication ...
- Startups use tech to put cardholders in charge of security – With data beaches on the rise, startup companies are developing new options that help consumers minimize their exposure to a possible hack ...
- Which banks let you personalize your credit card? – If you've ever wanted to take you favorite pet with you in the in the grocery store or to a fancy restaurant, consider plastering their likeness on a credit card ...