Think less and save more
The Co-operative Bank is lowering the rate on its think credit card from 1 April 2008. This will enable even more customers to take advantage of an ethical credit card with a competitive rate and at 12.9% APR typical variable; it will offer customers the lowest APR in the ethical credit card market.The think credit card helps to protect areas of endangered rainforest in Brazil. However The Co-operative Bank believes that thinking ethically goes beyond just thinking green, and so to reward those who shop ethically, the card also offers customers a lower rate of interest for ethical purchases with selected partners (7% p.a).
David Fawell, Head of Unsecured Lending at the Co-operative Bank, said: “The think credit card embodies the values and principles of The Co-operative Bank. We firmly believe that customers should not have to choose between price and ethics. After 15 years we are still the only high street bank in the UK to have a customer led ethical policy in place and by lowering the rate on our think credit card we hope to open up the card to a wider market and give even more customers the chance to shop ethically.”
The full ethical benefits of the think creditcardare as follows:
The first time the card is used, The Co-operative Bank arranges for half an acre of Brazilian rainforest to be purchased and protected in the customer’s name.
Additionally for every £100 spent on the card a further 25p is donated to protect the rainforest
Customers who use the card at selected ethical partners, including Ikea, Lush, and thetrainline.com receive a special lower rate of interest of 7% p.a. for six months following the date of each purchase.
Thecard also provides discounts with ethical retailers, including Ecofirst and Ecotricity.
PETg plastic is used for the cards - a greener material that doesn’t involve vinyl-chloride, which is used in the manufacture of PVC cards
The card is provided by the Co-operative Bank, which is still the only UK high street Bank to have a customer led ethical policy