![]() ![]() But think carefully before you get lured by rewards. ![]() Rewards: Most of the credit union and smaller bank cards we’ve researched either have no rewards or use a point system with limited options for spending those points. Some of the credit card offerings from credit unions and community banks are relatively limited in their features.Īnnual fee: Most are dropping their fees unless they offer lots of fancy services, but be sure to check. Read below ( Which card should I get?) on how to find out if the financial institution behind a credit card finances fossil fuel expansion.įinally, check the features. The previously mentioned Patelco and Alliant are two credit unions that do issue their own credit cards - good fossil free options). If you already have a credit card, the issuing bank will often be listed in small print on the back of the card. If they do, you still need to check carefully in the rate disclosures document to see if it is their own card, or is issued or underwritten by a different financial institution that may be a fossil fuel bank. Larger regional or national credit unions are more likely to offer a credit card. Look instead for credit union cards issued by Co -Op Financial Services which appears to be clean. One of the major credit card providers to the credit unions and small banks is Elan Financial Services, which we unfortunately consider to be problematic on fossil fuel funding (see Elan description below for more description). Many who do offer a credit card are only providing a channel to someone else's credit card - often hosted by a fossil-fuel invested institution. If your credit union or community bank does offer a credit card, check it out carefully. Many great credit unions and community banks only offer ATM/Debit cards and not credit cards. Smaller local banks and credit unions - the ones that by definition tend to really keep your dollars invested locally - often do not offer a credit card. How do you keep your dollars from contributing to fossil fuel financing?īut you may want to look elsewhere for credit cards ![]() Many of the other major credit card providers are in the top 60 fossil fuel finance list, including:īNP Paribas (#10 and the biggest banker of offshore oil and gas)Ĭanadian banks with credit cards are no better, following close behind the US banks overall and going big on tar sands funding, including :īank of Montreal (which now owns Bank of the West) (#15) The Banking on Climate Chaos report reveals that the 60 largest commercial and investment banks poured a total of $4.6 trillion into fossil fuels since the adoption of the Paris Agreements on climate in 2015, $742 billion in 2021 alone. Their leading roles in fossil fuel investing makes these four banks the most commonly targeted by the climate movement, including the March 2023 Banking on our Future Pledges.īut fossil fuel investing is widespread in the financial world. They collectively provided $180 billion in fossil fuel financing in 2021. ![]() The top four fossil fuel financers in the world are all major credit card providers based in the US: Which banks are su pporting the fossil fuel industry? We welcome your comments, corrections, and suggestions. Links are direct and we get no commission. The recommendations here are informed by research from several groups including, Third Act SF Working Group, 350 Mass, Fossil Free California and Rainforest Action Network. This research is ongoing and there may be more updates in the future.Ī side by side comparison of 29 institutions and their credit card offerings is in the Compare Credit Cards table. This page documents our research to find credit cards that are issued by institutions that have little or no investment in the fossil fuel industry. Third Act is currently gathering Banking on our Future Pledges to close accounts and cut up credit cards with the big financiers. How can you ensure that you are not contributing to financing fossil fuel infrastructure with your banking and credit card dollars? A number of organizations are working to pressure the industry by encouraging all of us to move our dollars out of the big fossil fuel banks - ideally into banks that are actively supporting the clean energy transition. Many of the banks that hold our savings and issue our credit cards help make the destruction of our climate possible by financing the exploration, drilling, refining, pipeline, and terminal projects that keep expanding the amount of fossil fuels we extract and burn. Fossil Fuel Free Credit Card Guide How to find a credit card in North America from banks with little or no fossil fuel investment ![]()
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