Released: May 18, 2007

Credit card rewards go green

Source: Christine Dugas, USA Today

redit card rewards are taking on a greener hue. A rising number of card issuers let environmentally minded people use points for such options as donating to a renewable-energy cause or buying a solar battery charger.

Last month, Wells Fargo added eco-friendly choices for its reward card holders. Bank of America and Citibank plan to add green points this year or next. And Bright Planet, a Vermont company, will soon introduce Bright Card, which will benefit clean-energy projects

“Because Congress is reviewing credit card fee practices, the industry needs a white hat right now, and green is good,” says Robert McKinley, CEO of online publisher CardWeb.com.

Another reason is that in a widening field of competitors, card issuers want to seize attention. And as airline rewards turn more restrictive, green rewards feel appealing, not to mention trendy.

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