Charity Charge’s new credit card: There’s a credit card that is available for everybody, from students CEOs, busy moms, and young side hustlers.
However, there’s one particular group that has been left unserved in the crowded market: non-profit organizations. Charity Charge’s new credit card.
Charity Charge has announced a brand new credit card designed to address the need.
A card specifically designed for non-profits
Typically, nonprofits have the option of choosing between either a typical corporate card or using a debit card to pay expenses using plastic. Charity Charge’s new credit card.
Both of these options require a personal guarantor who is responsible for financial responsibility to a single individual. Charity Charge’s new credit card.
Nonprofits operate on an entirely different model of business than for-profit businesses and are not accountable to the stakeholders, and aren’t intended to earn profits that benefit the owner.
This is why some nonprofits are reluctant to use credit cards for business, as an individual has to assume personal responsibility for the company. Charity Charge’s new credit card.
This is exactly where Charity Charge Business Nonprofit Mastercard comes in.
Charity Charge partnered with Commerce Bank and Mastercard to launch their nonprofit credit card. It comes with no annual cost, and charities can earn an annual cash rebate of 1 percent on each purchase. Charity Charge’s new credit card.
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Nonprofits who are eligible to use the card can benefit from a collaboration with Charity Charge and Purchasing Point A discount program created to assist nonprofits in saving money on expenses that are common to all of us.
The APR of the card is less than the industry norm of 14.9 percent. The same is true of the foreign transaction fee charged for the transactions made that are in USD as well as the 2 percent charge for transactions using other currencies.
Transparency in finances is of most important importance to charities and this makes the expense report and online card controls extremely beneficial.
One of the services Charity Charge provides is setting expenses reporting according to the codes and classes offered by the non-profit.
Employee cards are offered at no additional cost, and users can set spending limits and switch the cards off and on when they need to on the internet.
Stephen Garten, founder, and CEO of Charity Charge came up with the idea of Charity Charge Mastercard. Charity Charge Mastercard after learning that nonprofits were not provided with credit solutions specifically designed to meet their business needs.
The companies that Charity Charge partnered with for their consumer card that lets cardholders automatically give their cashback rewards to charities they choose have often demanded a product that was designed specifically with the needs of nonprofits in mind. Charity Charge’s new credit card.
“We’re established as an organization that benefits the public. Our main goal is to assist non-profit organizations,” said Garten. “We were aware of the issue, and decided to tackle it.”
Which non-profit organizations are considered eligible?
The charity Charge Mastercard is a service for 501(c)(3), (4), and (6) non-profit organizations of all shapes and sizes.
According to Garten, the clients vary from local charitable organizations in Austin to larger organizations such as Global Impact that serve communities all over the world.
If a non-profit organization applies for the card it must submit 2 years’ worth of financial records and an application for a credit limit.
Based on these documents, Charity Charge will either accept the credit limit proposed or counter it with a different one. Charity Charge’s new credit card.
There is no need for a personal guarantee, this is among things that distinguish Charity Charge apart.
“I’m simply amazed that a product or an idea I had and was capable of bringing to market is now in a position to affect all of these organizations,” Garten said. “I’m extremely satisfied to have dedicated my entire life to making an impact.”
The Charity Charge Mastercard is open to applications on the website of Charity Charge site.
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