Charity ECIG Credit Card Processing

Most of the persons will feel great if they understand that every time they make use of the benefits of credit card, they are providing charity. Banks and other financial institutions have come up with innovative methods to attract the customers. They tempt the customers with mails and other reward schemes if the customers are loyal. Nowadays banks and other firms have come up with credit cards which provide charity in the form of reward credit cards.

Charity cards are offered to the children who are in need of medical expenses in collaboration with hospitals and other organizations. This type of credit card allows the customer to provide money in charity to the small children. One can have the shopping, dinner or purchasing clothes and shoes and need not make change in the usual lifestyle. While you spend money for each of the expenses a certain amount will be given in donation to the charitable organization which you have chosen. The money is a guarantee for the kind heart of the customer. There are people who want to donate some money to the charitable organizations, but do not opt for a direct debit. In most of the cases, people forget to donate the money accurately. But by using a charity card one can make sure that he or she is doing their role to the society without spending too much time for it. This has another logic which says that the more money you pay out on the purchases, the more money you will be donating.

In order to make sure that you do not end up financially empty handed, one can pay the whole amount in a single month. Otherwise the customers will have to pay the interest. The amount of interest you pay each month will be more than the amount that is donated.

There are a lot of demerits too for this kind of charity card. The amount which you donate will be very less. It will be 0.25 or 1.25 percent of the amount the customer spend. It will go to the universal fund which started to fight the AIDS or HIV. This means that the amount you pay must be more in order to make the donation valuable.

Even though the charity is paid using a credit card, this will not have the advantage of the gift aid scheme which allows the customers to get the tax reclaimed which is paid on donations. If the donation is made directly through money, the charitable organization will receive more amount than the amount that is paid through credit card. These charity credit cards do not have much interest rate.

If the customer is using cash back card, he will receive more returns than the amount which is received from reward scheme or charity card. The customers must ensure that the amount must be paid without any instalments in a single month. This will avoid the higher interest. Other wise the interest rates will get the donation or cash back overshadowed.

If you are determined to donate some money through credit cards, one must compare different cards that are available in the market. They must make sure that the card they opt is better than the other cards. Contact one of our helpful account representatives to assist you in the setup of a high risk merchant account or offshore merchant account for a high risk merchant.