Gallery: IS IT GREEN?: The Biodegradable Credit Card

 

No question about it, Americans have an overconsumption problem. The total outstanding balance of bank-issued credit cards per consumer was $5,710 in December 2008, according to Transunion. Americans like to buy new things and throw out the old ones. We also like to own lots of stuff we don’t need. Retailers profit from this, but so do money lenders. And many of these excessive retail purchases end up on credit cards. Discover has taken a step toward sustainability by introducing a new card made of biodegradable plastic, which it says is the first. But how green can a credit card really be if serves to encourage consumption?

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4 Comments

  1. taylar June 9, 2010 at 7:37 pm

    Credit is a method of selling goods or services without the buyer having cash in hand. A credit card is only an automatic way of offering credit to a consumer. Today, every credit card carries an identifying number that speeds shopping transactions. Imagine what a credit purchase would be like without it, the sales person would have to record your identity, billing address, and terms of repayment.

    According to Encyclopedia Britannica, “the use of credit cards originated in the United States during the 1920s, when individual firms, such as oil companies and hotel chains, began issuing them to customers.” However, references to credit cards have been made as far back as 1890 in Europe. Early credit cards involved sales directly between the merchant offering the credit and credit card, and that merchant’s customer. Around 1938, companies started to accept each other’s cards. Today, credit cards allow you to make purchases with countless third parties.

    Credit Card Website

  2. creditcardquick.com July 11, 2009 at 9:24 am

    With the recent studies confirming the negative effects of global warming to our daily lives, we must begin to rethink on how we are dealing with our environment. Using eco-friendly products and services can help contribute in slowing the pace of global warming.

  3. aaronfu February 24, 2009 at 7:17 pm

    Environment Friendly Non-PVC Credit Cards were already introduced years ago by banks like HSBC and Barclays, just never in the United States.

    I think its hilarious how the card does not even have a ‘classic’ program where it donates e.g. ‘1% of each purchase’ to a Cause.

    Its when a Green Credit Card isn’t Green.

    Great Article though! I’ve linked to it from my Post on it here: http://is.gd/kK81

  4. Alli84 December 19, 2008 at 11:36 am

    If credit card companies really want to be green they need to stop sending out all those credit applications! What a waste of paper and plastic!

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