Friday, January 15, 2010

Credit Card Companies Waiving Fees


In light of the tremendous devastation in Haiti since the earthquake, overwhelming philanthropic response individual donors and public pressure, American Express, MasterCard and Visa have announced that they too are waiving administrative fees typically associated with credit card donations. This move follows the waiving of fees initiated by text donations processors, as we discussed previously.

The big three have placed some time and organization specific limitations on the waivers: American Express will waive fees until the end of February for donations made to those organizations that are identified on the US Aid website. MasterCard users will have their fees waived if they donate to the Red Cross, UNICEF, Save the Children, or CARE USA. Visa has indicated that it will donate its revenues generated by charitable contributions (through February) to the Red Cross. In addition, Visa has selected 11 eligible organizations that will have donations interchange fees waived during that same time period.

3 comments :

Susan said...

If you have a Discover Card, you can donate $20 or more of your cashback bonus to the Red Cross, and Discover will match your donation, up to $1 million. They are also waiving fees on donations to the RedCross.

http://www.discovercard.com/landing-pages/relief/?asmpgn=0110_TWI_ARC_001

Otherwise, if you have an American Express card, it seems best to use it to donate, as they waive fees for the widest number of charities (all the ones on the USAID list).

Susan said...

If you have a Discover Card, you can donate $20 or more of your cashback bonus to the Red Cross, and Discover will match your donation, up to $1 million. They are also waiving fees on donations to the RedCross.

http://www.discovercard.com/landing-pages/relief/?asmpgn=0110_TWI_ARC_001

Otherwise, if you have an American Express card, it seems best to use it to donate, as they waive fees for the widest number of charities (all the ones on the USAID list).

buildofcredit said...

credit card for students it would be a lot better if you choose a credit card company that waive fees for charities.