Earn money, plant trees with every purchase
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Suction launched their very first credit card on Thursday, Zero Aspiration Credit Card. This new card earns money on every purchase, but ultimately serves a much bigger purpose than that. In an exclusive interview with Select, Aspiration CEO Andrei Cherny said this card “is the only card that lets you take miles off the planet.”
For every purchase cardholders make with the Aspiration Zero credit card, up to two trees will be planted, in an effort to eliminate your carbon footprint.
Aspiration is a digital bank with a bigger mission than just making money. Aspiration helps its customers spend, save and invest without neglecting the fundamental objective of the bank: to try to make the world healthier and cleaner. They have not only pledged to donate 10% of their profits to help struggling Americans, but also aim to plant 100 million trees worldwide to compensate. human-made carbon emissions.
Aspiration also attempts to combat the “green washphenomenon by committing to 100% clean money lending, which is essentially financing that does not involve the fossil fuel industry.
Select has analyzed this one-of-a-kind credit card product for its benefits not only to your wallet, but also to the world.
On the Aspiration secure site
0.5% cash back on all qualifying purchases (this can be increased to 1.0% cash back; see terms for details*)
$300 welcome bonus when you spend $3,000 on qualifying trades in the first three months
11.65% to 21.45% variable
Balance Transfer Fee
Either 3% of the amount of each transfer or $5, whichever is greater.
Foreign transaction fees
The Aspiration Zero credit is simple in its offer. When you are approved for the card, you can earn $300 welcome bonus after spending $3,000 on qualifying transactions in the first three months.
When you spend on the card, you earn 0.5% cash back on all eligible purchases, but this can be increased to 1.0% cash back.
Although these cash back rates are not great compared to other rewards credit cards, the real benefit you get is your ability to eliminate or reduce your carbon footprint. By spending on the card, you will make the following difference:
- Each purchase with the card results in the planting of a tree, and another if “Plant your change” is activated (for a total of two trees planted per purchase).
- Enabling “Plant Your Change” will round each purchase to the nearest dollar to plant that extra tree
- Once you reach 60 trees and achieve carbon neutral status for the month, rewards will be doubled for the month to 1.0% cash back on all qualifying purchases
In fact, the physical credit card itself is even “green” and isn’t made of plastic – it’s made of plant- and corn-based materials.
If you you don’t want to pay an annual fee and get cash backTake into account Hunt Unlimited Freedom® map. You can earn more rewards this way, and if you’re still keen on improving the environment, you can donate your money to an environmental charity or nonprofit.
the Zero Aspiration Credit Card is a great product for consumers looking to make a tangible difference in creating a greener planet. Every swipe of the new map helps plant trees around the world. However, this is not the best option if you are really focused on maximizing the cash back amount or travel rewards that you can win.
If you believe deeply in Aspiration’s mission, you may want to consider change bank. They also offer FDIC insurance current account who offers mobile phone protection and one savings account where you can earn up to 5% APY on the first $10,000 in deposits. And like the Zero credit card, for every debit card swipe, a tree will be planted. Importantly, by switching your banking to Aspiration, you can be sure your money won’t be used to fund climate change-related projects.
It is always beneficial to think about your personal finances when making decisions about financial products, but there are also other conscious decisions to consider, including the environment and reducing your impact on the earth.
Editorial note: Any opinions, analyses, criticisms or recommendations expressed in this article are those of Select’s editorial staff only and have not been reviewed, endorsed or otherwise endorsed by any third party.