Kiva Philanthropic Reward Credit Card
This is an interesting twist in the realm of credit cards… The Kiva BusinessCard from Advanta puts an interesting twist on reward credit cards — they match Kiva contributions dollar for dollar, up to $200 per month as long as you make them with this card. Once the loan is repaid, Advanta gets their contribution back (just as you do with yours).
For those of you that aren’t aware, Kiva is a philanthropic organization that facilitates “microlending” to individuals in developing countries. In essence, they provide a means of connecting small-scale lenders (like you!) with aspiring entrepreneurs in developing countries. After you get your funds back, you are free to hold onto them, or you can re-loan them to someone else.
This card also offers 5% cash back on your Kiva loans and charitable donations (up to $1200 per year) and 1% cash back on everything else (no limit). Other notable features include a 0% balance transfer offer that’s good for 15 months, $0 fraud liability, and no annual fee.
Oh, and one more thing… While it’s technically a business card, anyone can apply.
[Via: pfBlueprint]
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I’ve been closing credit cards to reduce my lines of credit lately, but this seems like a good deal for everybody involved. Cash back for me, twice as much money for the person I lend to, and credit processing fees for Advanta. Plus I’m sure Kiva gets a cut of the action as well.
If I did sign up for it, I wouldn’t use it for anything except for the Kiva contributions, but that’d still be up to $120 back on $2400 loaned over the course of a year. I like the concept - good gimmick.
Comment by Blaine Moore — Jul 30th 2008 @ 4:10 pm