eco MasterCard by GE Money

[mileagemax]

Everyone is going green!

I wondered how long it would be until a card like this was launched. Basically you can feel good by GE buying carbon credits based on how much you spend on the card.

GE Money eco MasterCard

Do you think people will go for it? Or are we all too greedy trying to get as many airline miles as we can?

 

[Mal]

Nah, I doubt it will be a success.

A few reasons.

The 'green rebate' stops at $50000, which means a max of $500 towards green credits. Yay.
The Interest rate is higher than most other similar cards.
You can either contribute 1% to the Green credits, or 0.5% to green credits, and the rest as a rebate. I'm not sure people see value in getting $250 (max) rebate on a card when other cards offer higher.

I'm sure a few tree huggers and other assorted people will take up the card - and good for them, but I seriously doubt this card does anything special for the environment like is claimed.

 

[oz_mark]

I am sure it will find a niche market, and I am sure some people will take up the cashback option as well. I have my suspcions about all this carbon offset trading that is going on, and whether it achieves what its proponents do, but maybe its better than doing nothing.

 

[JohnK]

Do you think people will go for it?

I don't think GE products are that popular. The main reasons are high interest rates and their lack of customer service.

Or are we all too greedy trying to get as many airline miles as we can?

I don't think we are too greedy.

I am not convinced that people have embraced the voluntary carbon offset concept. I know I haven't and the only way you will get me to pay it is if you force it on me like a tax, ala GST....

 

[straitman]

I am not convinced that people have embraced the voluntary carbon offset concept. I know I haven't and the only way you will get me to pay it is if you force it on me like a tax, ala GST....

There needs to be some realistic and open explanation as to where and how the money is spent. So far I've not been overwhelmed by an explanation. ... or have I missed something :?:

 

[serfty]

It was succinctly put by Mal who rather appropriately (IMHO) referred to this industry as a gravy train:

• http://www.frequentflyer.com.au/community/qantas-frequent-flyer/qfs-carbon-offset-one-11032.html?

 

[JohnK]

There needs to be some realistic and open explanation as to where and how the money is spent.

Would an explanation be enough to make you want to contribute? Would you believe this explanation or would you have doubts in your mind?

We are one of the highest taxed nations, and probably most complex, in the world. There are enough direct and indirect taxes already without adding more.

 

[straitman]

Would an explanation be enough to make you want to contribute? Would you believe this explanation or would you have doubts in your mind?

1. Probably not,
2. Probably not &
3. Yes