Best Green Credit Cards Of November 2024 – Forbes Advisor – Technologist

It’s hard to tell exactly which major bank is the most eco friendly, but some of the biggest players have, in recent years, become more committed to a sustainable future. However, while the private banking industry may be financing many sustainable or renewable energy projects, let’s not forget many of these same institutions also fund industries and companies that negatively impact the environment. Be aware that some banks you might hope are backed by green ideals because of the associated co-brand or newfound dedication to sustainability, in fact, often have significant investments in fossil fuel markets.

For example, JP Morgan Chase, Citibank, Bank of America and Wells Fargo reportedly lead the world’s banks in investment in oil and gas industries. (Unfortunately for those seeking eco-friendly cards, these institutions also offer many of the best credit cards on the market).

The banks we write about most often here at Forbes Advisor for particularly attractive credit card offerings have the biggest investment in fossil fuel industries and though they attempt to offset these harms with expensive projects, you should not be fooled into thinking these corporations are committed to the environment.

American Express

American Express offers an incredibly rewarding and benefits-rich set of credit cards. The company has been carbon neutral since 2018 and has committed to net zero operations globally by 2035. It should be noted however, that net zero does not mean the issuer isn’t contributing to climate change, simply that their investments in green companies offset the theoretical cost of the damage being done by their less ecological business dealings. To their credit, Amex has created programs to support Maui’s wildfire recovery, made progress with green building certifications and set goals for spending $10 million on climate change through 2025. Although many Amex cards are metal, the American Express® Green Card* is made from 70% recycled plastic. These things are undeniably good.

However, Amex cards, and the issuer itself, are not really “green”: Several Amex cards offer elevated rewards on purchases made at gas stations, and few, if any offer rewards specifically targeted toward purchases on sustainability-oriented transactions. However, the issuer does focus on supporting small businesses and occasionally rewarding consumers who spend at these places with events and promotions during the annual Small Business Saturday.

Chase

Chase credit cards are some of the best on the market, but the company isn’t known for sustainability. In fact, the company is reported to be one of the largest global funders of fossil fuels. However, JPMorgan Chase has said it’s allocating $2.5 trillion toward climate change and sustainable development by 2030 and are striving for net-zero emissions by 2050. Whether or not these things offset the harms of the fossil fuel industry is debatable. One thing that is certain though, Chase offers many credit cards that will earn you hefty rewards.

Capital One

Capital One offers a wide array of consumer-friendly credit cards and advertises its dedication to supporting renewable energy, reducing water consumption, reducing GHG emissions, cutting down paper consumption and striving for LEED silver certification of new or renovated buildings. Capital One also supports local products, such as backing the biggest solar project in Idaho and offering grants to the Greater New Orleans Foundation to build green infrastructure.

The issuer also launched the REI Co-op® Mastercard®* in 2022, which is made from 85% recycled plastic and offers 5% back on purchases at REI, 1.5% back on all other eligible purchases. The no annual fee card also offers a $100 REI gift card for new cardholder accounts after the first out of store purchase within 60 days of account opening. REI is known for contributions to outdoor access and environmentally friendly and sustainable causes.

Methodology

Our search for eco-friendly credit cards veered away from our usual methodology of evaluating cards based on consumer gains in rewards, benefits and welcome bonuses. Instead, we found various cards from issuers and banks with track records of divesting from fossil fuels, investing in greener ideas and supporting local, community-driven environmental projects.

For these reasons, this list isn’t a comprehensive index of the best green credit cards but a collection of ideas about where to begin your search for a more sustainable card for everyday use.

All the cards mentioned here flipped to the front of the stack because an issuer or a bank involved with the card features environmentally friendly or socially responsible financial products. We also researched each card’s issuing bank and associated card companies to ensure the cards we feature are not issued by institutions with investment portfolios largely made up of fossil-fuel-related investments.

When it comes to larger banks and issuers, these institutions may be making limited progress toward a more sustainable future, but we felt the main focus should be given to those institutions at the forefront of sustainable lending.

There aren’t a lot of truly green credit cards out there, and other card benefits may not compete well with the top rewards credit cards available. However, they can still be a smart option for someone who’s environmentally conscious.

As we considered our options, we focused on cards issued by banks and co-branded partners that prioritize or directly support green initiatives. We made sure to include cards that have at least one or two valuable benefits, even if they don’t offer the best return on your spending.

Read more: How Forbes Advisor rates credit cards

All information about American Express® Green Card has been collected independently by Forbes Advisor