Charity Charge Unveils Socially: AUSTIN TX–Marketwired, June 21, 2016, – These days, credit cards that give cash back on every purchase are quite common. Charity Charge Unveils Socially.
Charity Charge, however, is giving a new spin to a consumer favorite by making it pay for charity and offering a creative way of addressing the $16 billion in credit card rewards points and cash lost each year. Charity Charge Unveils Socially.
Today, the Austin-based startup launched a new credit card that allows users to donate cashback to charities of their choice. Charity Charge Unveils Socially.
Commerce Bank’s Charity Charge World MasterCard allows cardholders to earn 1% cashback on all purchases.Charity Charge Unveils Socially.
This can be used to support up to three national and/or local nonprofits. Charity Charge is unique among affinity cards in that it covers all donation processing fees and transfers the full 1% to charity.
This card has no annual fees and allows users to give directly to any local or national non-profit organization.
The card is also a World MasterCard and offers many perks, including ID theft protection, zero liability protection, and special deals on vacations, hotels, and cruises.
The idea for the card was created by Stephen Garten, a millennial social entrepreneur. He founded Charity Charge because he believes that everyone, from celebrities to dentists to civil servants, is united in a burning desire to help others. Charity Charge Unveils Socially.
His late father was the inspiration behind Charity Charge. He was active in many philanthropic causes in Baltimore before he died from cancer in 2006.
Garten stated, “We created Charity Charge because we believe that philanthropy should not be a burden, but a duty.
” We are encouraged by the technology that can be used to improve efficiency, democracy, and benefit for nonprofits as we examine how people live today, especially through affinity card programs.
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Donors who use a credit card to make a donation can cause nonprofits to lose between 3-5% and 4%. Affinity card programs usually offer 0.1% to 0.4% back to one nonprofit.
We have developed a credit card program that is easier and more effective for charities through our partnerships with leaders in both the nonprofit and payment processing industries.
Charity Charge World MasterCard allows purchase-integrated gifting to be made available beyond the reach and capabilities of non-profit affiliate credit cards. The rewards are tied only to one organization.
Charity Charge has partnered with Network for Good and GuideStar to maintain a database of all U.S. registered nonprofits, including K-12 public schools and universities, as well as religious and other organizations.Charity Charge Unveils Socially.
The card can be applied for through Facebook Connect. This makes it one of the first companies to use this innovative technology. Cardholders can also share information about donations via Facebook Connect.
Garden established Charity Charge in Delaware as the Public Benefit Corporation. This type of legal structure is recognized in 30 U.S.
States and the District of Columbia, and it’s intended for organizations that want to have a positive impact on society.
Already, the company has been recognized for its use of entrepreneurship to help others. In 2015 IBM named Charity Charge one of the top five social startups in America.
MasterCard is committed to “doing good so we can do well”, and Charity Charge falls within that category.
“The company has come up with an innovative way for consumers to be able to use the cash they earn from purchases to fund their charitable endeavors,” Cheryl Guerin (executive vice president, Global Products and Solutions for North America MasterCard) said.
Commerce Bank Senior Vice President for Consumer Card Products Chad Doza stated that Commerce Bank was pleased to be the sole bank and issuer of Charity Charge World MasterCard.
“With our vast experience in managing credit card programs, we are well-suited as partners with Charity Charge for this first-of-its-kind product.
Commerce Bank’s relationship with Charity Charge demonstrates its commitment to social responsibility and financial technology.
Charity Charge, PBC is a startup based in Austin that transforms the way people donate to charities. Charity Charge Unveils Socially.
Commerce Bank’s Charity Charge World MasterCard allows users to donate the 1% cash back they get on all purchases to up to three charities of choice.
Charity Charge is able to distribute donations to all registered nonprofits in the United States through unique partnerships with Network for Good and GuideStar.
The company was founded by Stephen Garten, CEO. Its mission is to use technology to promote philanthropy in the 21 Century.
Charitycharge.com allows you to apply for a card and register information for nonprofits.
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