MoneyExpert.com: Co-Op Think credit card

Sean Gardner, Chief Executive of MoneyExpert.com, said: “The Co-Op Think card is an admirable venture that tries to support every type of ethical practice, from fair trade to eco-friendly and even animal welfare projects.

“The discounts and incentives seem fair enough and will interest those who either already make ethical choices in their lives, or people who want to start to make a difference.

“It may be the first ethical credit card, but it’s not the first green credit card. People will inevitably make comparisons with Barclaycard’s Breathe card, and rightly so – both products have a mission to support the climate change cause and while there are differences, it’s likely that customers with strong ethics will consider both.

“If you ignore the various causes each card supports, Think is not a competitive credit card, whereas Breathe possibly is. The Co-Op’s Think lacks a zero per cent offering and the seven per cent special rate on purchases is only available for six months.


“By contrast Barclaycard’s Breathe has a special rate of 5.9 per cent for life on green spending as well as a zero per cent balance transfer deal for six months – so you can use the card even if you’ve got a balance hanging around from other borrowing.

“If you still can’t decide between them then it’s worth noting that both have committed to grand gestures to get the ball rolling. Barclaycard has agreed to donate 50 per cent of Breathe profits to environmental projects that help reduce carbon emissions and has guaranteed a £1 million donation to green causes in the first year.

“The Co-Op has pledged to buy half an acre of Brazilian rainforest in your name when you use the Think card for the first time, and will also donate a further 25p in a pound to protecting the rainforest.

“The truth is many credit card holders have only one thing in mind, and that’s competitive rates that allow them to manage debt cheaply. Think falls down here where Breathe might just prosper.”