New Card Offers Accelerated Rewards on Climate-Friendly Spending

The new FutureCard Visa® card, issued by First Electronic Bank, is hoping to encourage consumers to make more socially responsible purchases by offering up to 5% cash back on climate-friendly spending. The charge card functions differently from a traditional credit card in a few ways, including the fact that there's no credit check when you apply and that there's no interest and no fees.

FutureCard Offers a Chance to Align Your Rewards With Your Spending

For those who are environmentally conscious, there are no traditional credit cards out there that reward climate-friendly spending habits. FutureCard is a new charge card that does just that, offering an impressive 5% cash back on:

• Trains, buses, subway, metro, light rail, and commuter rail purchases
• Online marketplaces for gently-used clothing and thrift stores
• Electric vehicle charging
• Bike shops, including bikes, e-bikes, cycling accessories and repairs
• Electric scooters, mopeds and bike shares
• Plant-based meat, dairy and eggs

Future provides a list of eligible retailers where you can earn bonus rewards, which includes Patagonia Worn Wear, Ministry of Supply, Poshmark, thredUP, Electrify America, Lime, Citi Bike, Amtrak, and many more. Cardholders earn 1% back on all other purchases.

Rewards are automatically redeemed as a statement credit at the end of each billing cycle. Unlike traditional credit cards, Future is a charge card, but there are no monthly payments, interest, or fees. Instead, the card's issuer pulls payment for each purchase from your bank account within a few days of the transaction date. If you don't have sufficient funds, it'll try again. In the event of a default, you may be ineligible for rewards, and your account may be closed.

The card issuer doesn't require a credit check when you apply, making it accessible to consumers across the credit spectrum. However, it also doesn't report your balance or payments to the credit bureaus, which means you can't use it to build your credit history. A company spokesperson says that Future has plans to report to the credit bureaus at some point in the future.

If you're interested in applying for the card, you can provide your name and phone number via the Future website to get started.