Green credit card launched

As consumers get more concerned with environmental issues, financial providers are catering to their concerns and Barclaycard is the most recent to offer a green product.

The Barclaycard Breathe card will stick to a range of green promises; among them donating 50 per cent of the profits to projects dedicated to reducing carbon emissions.

Cardholders will benefit from discounted rates of borrowing when they purchase green products and services, including public transport, while the standard rate will be 14.9 per cent APR.

To further minimise environmental impact, the account will be paperless and the cards themselves will be made of a more eco-friendly material than the currently used PVC.

However, this card is not for everyone, according to the comparison website moneysuperarket.com.

Stuart Glendinning, managing director of the website, said: "People with significant credit card balances that are paying high interest amounts should focus on reducing debt rather than carbon but for other consumers I am sure this will, with the right terms, prove popular."

He added that American Express’s Red card appealed to consumers with a social conscience and that the Breathe card did the same for green minded consumers.