Co-op Help The Homeless

Friday 20th April 2007

The Co-operative announced plans this week to launch a new credit card, which will help fund projects benefiting the homeless and those in need of housing.

The affinity card will provide the charity Shelter with a one off donation of £20 for every card taken out and an additional 25p for every £100 spent on the card at no additional cost to the consumer.

By the end of July Shelter expect around 2,000 people to take out the card from the Co-op and hope to raise around £400,000 for the charity.

The Shelter affinity card is the newest in a long line of charity cards which aim to raise money for charities, clubs and associations. Consumer Watchdogs suggest that you check interest rates carefully on charity cards however as they are not always the best on the market. Lisa Taylor, from Moneyfacts states "The danger with affinity cards is that consumers, with a conscience, forget to pay off what they owe each month and end up paying high interest".