Virgin Money charity credit card to donate up to 1% of card purchases

G:XL's Collaboration and Back Office Services Learning Cluster has identified the following opportunity for difficult economic times, which could potentially generate income for your charity from all credit card transactions.

"If you are looking for a credit card that can benefit your charity then do consider this one from Virgin Money" said William Clemmey, G:XL work stream lead from Midlands Youth.  Read full details below:

Financial services provider Virgin Money has announced that its new Virgin Charity Credit Card will donate up to 1% of the customer's spending on the card to the charity of their choice. The company's first product since it became a bank, the Virgin Charity Credit Card will also be the first charity affinity card to enable Gift Aid.

The Virgin Charity Credit Card can donate a basic 0.8% of the customer’s expenditure on the card to the charity of their choice. Since it enables Gift Aid for cash back, the first charity affinity card to do so, the total value of the donation can rise to 1%.

Scott Mowbray at Virgin Money, said: "Cardholders will be able to nominate their chosen charity which they can change quickly and easily. As an example we have seen from the recent earthquake disaster in Haiti people are keen to help in cases of dire need and this card ensures they can react quickly. If a customer can’t decide which charity they want their cash back to go to, then our nominated charity will receive the funds."

The card has a typical rate of 12.9% APR (variable) and offers a lifetime balance transfer rate of 8.9%. It charges a 2% balance transfer fee if the transfer is made within 60 days of the account opening. A 2.98% fee applies otherwise.

Virgin Money last year launched its not-for-profit online fundraising service virginmoneygiving.com, the official sponsorship website of the Virgin London Marathon, Royal Parks Half Marathon and Sony ‘Run to the Beat’.

http://uk.virginmoney.com/virgin/charity-credit-card

Get Involved

For more information about this or about the G:XL Collaboration and Back Office Services work stream and resources, you can contact William Clemmey via the contacts below:

• T: 01926 450 156 Ext: 203 
• E: william.clemmey@wayc.org.uk