Friday, March 03, 2006

Red Carded – Cui Bono?

The American Express Red Credit Card was launched yesterday by Bono and Elle MacPhearson. The gist is it’s a normal credit card with no annual fee which donates 1% of what you spend to combat AIDS in Africa. It seems like a great development and the first of many from the Red Brand which includes Giorgio Armani and Gap.
12.9% APR seems competitive but Credit cards are almost always the most expensive form of debt so clear it every month.

It has been emphasised that this is a business venture, its good business sense for the corporations to target the section of consumers that are concern about AIDS in Africa.

I’m going to try get one – I’ll let you know how it goes.


---- UPDATE ----

The Card isn't available in Germany or Ireland yet - just the UK and US.
I've contacted them to find out when it will be available.

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