Contact Us   |   Français   |  

How to choose a credit card in Canada based on philanthropy

One of the most difficult things to do today (especially considering the state of the Canadian and global economy) is find the right credit card for your specific needs.

Not only are most of the traditional lenders tightening their belts, so to speak, when it comes to processing credit applications and accepting people for larger limits on their current credit cards, but the number of new credit cards in Canada that are being issued two new customers are dwindling on an almost annual basis, see

Lenders just aren’t all that interested in taking on more and more unsecured debt, especially since they were so badly burned in the past. You’re going to need to make sure that you are focusing on the lenders that will provide you with an opportunity to secure the right credit card for your needs – such as one of CreditWalk's secured credit card alternatives - especially if you are interested in finding a credit card in Canada that helps you make more philanthropic donations at the same time.

Philanthropy is still a major part of Canadian life

Though each and every nation on the planet has their fair share of philanthropists, the truth of the matter is that philanthropy has always been interwoven into Canadian culture in ways that few other nations across the globe are able to replicate. Canadian people in general try to help their fellow man as best they possibly can, even if it means taking a little bit “on the chin” themselves.

However, with the modern economy spiraling downward across the globe at a rapid rate – and no real light at the end of the tunnel anytime soon – Canadians have been forced to reel in much of their philanthropic donations across the board.

However, investing in the right credit card offered in Canada that has a specific focus on philanthropy might be the very best way to continue giving without having to take from yourself.

Finding a credit card that is focused on philanthropy

One of the easiest ways to find the right credit card that allows you to fully engage in philanthropy is to choose one of the “affinity or sponsorship” credit cards.

There are a number of credit cards offered out there from all the usual suspects in the traditional lending world that allow you to show your full support for your favorite sports team, business organization, or other charitable endeavor – basically stamping your credit card with a design or logo set from that company.

And though there is certainly something to be said about the brand awareness that you’ll be able to generate by putting this “stamp” on your credit card that you use on a daily basis, most of these credit cards also have a partnership deal with the credit card companies – think of it as a licensing agreement.

That means that some portion of the money will be funneled directly to these businesses, groups, or charitable organizations, allowing you to support them on a regular basis without having to dip into your daily budget. This is as close to a “win-win” situation as you’re going to find – though there are other solutions you can leverage as well.

Find a “Cause Credit Card”

Another option available to Canadians (people all across the globe, for that matter) is to move forward with a “cause credit card”. Bank of America, Chase, Target, and a whole host of other traditional lending bodies have a number of calls credit cards available – ranging from cards that support the American Heart Association, the Worldwide Wildlife Fund, or the REDinitiative. Each time that you use these cards anywhere between .3% and 1% of every transaction will be funneled directly to that cause.

This is just another way that Canadians can help their favorite organizations without altering their daily or annual spending habits.