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April 3, 2008

Co-operative Bank’s ethical card has lowest rates

by Richard Kilner

Story link: Co-operative Bank’s ethical card has lowest rates

The think credit card’s rate is being reduced to 12.9% APR typical variable by the Co-operative Bank, effective from 1 April this year.

The rate reduction is designed to enable more consumers to benefit from the ethical think credit card offered by the bank, as its rate is now the lowest in the ethical credit card market.

The 12.9% rate is 2% lower than Barclaycard’s Breathe card and 4% lower than American Express’ Red card, according to moneysupermarket.com.

There are a number of ethical advantages to using the think card. Firstly, it supports the protection of the Amazon rainforest, and secondly it offers a lower rate (7%) for selected partners deemed to be more ethically positive.

Co-operative Bank’s unsecured lending chief, David Fawell, explained that the ethical concepts of the card were a symbol of the firm’s own commitment to principles and values.

 

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