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"Consumers continue to make donations on credit cards despite recession"

By admin | September 14th, 2009 | Credit Cards

Whilst the recession has definitely seen a greater number of households aiming to cut back on their expenditure and outgoings in order to weather the financial crisis, recent research has shown that Brits are still being generous when it comes to making donations to charities.

It has been revealed that many Brits are still using charity based credit cards, so rather than earning points or rewards for themselves when using these cards they are earning money for their favourite or chosen charity by using their credit cards.

With these charity credit cards a small donation is made to the charity each time the card is used to make purchases, with a small percentage of each pound spent on the card going to charity.

Whilst the percentages are not high they can quickly add up, and data has revealed that over six and a half billion pounds were spend on these charity credit cards last year by Brits, netting the various chosen charities a total of nearly seventeen million in donations.

There has also been an increase in the level of donations being made in the more traditional way to charities, which is where people ring up or go online with their credit or debit card details to make a donation to the charity.

There was an increase of around 18 percent in debit and credit card charity donations last year, with £1.19 billion donated to charities in this way last year, compared to the £1.01 billion that was donated in the previous year, even though the recession had not set in at that time.

One industry official stated: “Despite the economic downturn it seems there was no let up last year in people’s commitments to charities. Over the last few years we have seen more charities offer donors additional ways to pay, particularly with cards, and particularly online – all of which makes donating extremely easy, and unquestionably plays a part in the increase in charity spending on plastic cards.”

Tags: charity credit cards, credit cards charity donations, charity donations

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