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October is Breast Cancer Awareness month, and it's estimated that over 40,000 women will die from this disease in the United States in 2015, which is a higher number of fatalities than automobile accidents. In fact, nearly every American knows someone who has been affected by this insidious disease.
The Susan G. Komen foundation was created in 1982 and has become one of the leading organizations in the United States to fund research, education, screenings, and treatments for those with breast cancer. It sponsors numerous fundraising events such as the Komen Race for the Cure and the Susan G. Komen 3-Day. But if you also want to show your support for this cause by using your credit card, than it's important to know which is the best card to use for supporting this cause.
The Susan G. Komen® Pink Ribbon Card from Bank of America®
Bank of America® is the exclusive credit card partner of the Susan G. Komen foundation, and using their Bank of American Susan G. Komen® Credit card supports the cause in several ways. For each new card that is activated within 90 days of opening, Komen will receive $3 and 0.08% of each customer's retail purchases made with the card. Komen will also receive an additional $3 for each renewal of the card, as long as the account is in good standing and doesn't have a zero balance at the time of renewal.
As a result, Bank of America® is guarantees a $3 million donation as part of its Pink Ribbon Banking credit card and checking program from 2015 to 2020. In addition, Bank of America® is guaranteeing a $3 million donation as part of its Pink Ribbon Banking credit card and checking program. In fact, the foundation has already received over $7 million from Bank of America® as part of this program since 2009.
Not only does this card benefit Komen, but it also comes with a generous rewards program for cardholders. New applicants can receive a cash rewards bonus and earn 3% on gas and 2% at grocery stores/wholesale clubs for the first $2,500 in combined grocery store and gas purchases each quarter, then 1% cash back on all other purchases. Read our review of the Susan G. Komen® Credit Card to learn more.
Bank of America® also offers its Pink Ribbon checking program, which offers checks, statements and debit cards with the Susan G. Komen logo printed on them. Like the credit card, Bank of America's Pink Ribbon checking program will also make a donation to Susan G. Komen.
Additional Ways to Support Susan G. Komen
Even though there is just one credit card that is licensed by the Susan G. Komen foundation, there are other ways to use your credit card to make a donation.
- Use Your ACE Elite™ Visa® Prepaid Debit Card -ACE Elite supports the National Breast Cancer Foundation with their ACE Elite Visa Prepaid Debit Card. Each time a cardholder uses their Pink ACE Visa card to make a purchase, a portion of the purchase goes to fighting breast cancer. They donate no more than $350,000 per year, and since October 2006, Ace and NetSpend have contributed more than $2 million to the cause.
- Use Your Capital One Credit Card -The drawback with using most credit cards to make charitable donations is that the recipient will not receive 100% of your donation, and between 2% - 4% will go towards the credit card processing fees that all merchants incur. Some programs, however, provide a way to get around that. Capital One, for example, has an innovative program called No Hassle Giving that allows cardholders to make donations to Susan G. Komen and other non-profits, with knowledge that their entire gift will be received. All Capital One credit cards are eligible, and cardholders will even earn rewards if they use an eligible rewards card.
- ShopKomen.com. This is a site where consumers can use their credit card to purchase apparel and merchandise that features the Susan G. Komen pink ribbon logo. A minimum of 15% of the purchase price is donated to the foundation.
- Shop at BCRF.org. Just like ShopKomen.com, 91 cents per dollar spent on purchases at the Breast Cancer Research Foundation shopping site will go directly towards cancer research and awareness programs.
So before October ends, you can use the power of your credit cards to support this important cause that affects the lives of so many Americans.
* Editorial Note: This content is not provided or commissioned by the credit card issuer. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone, and have not been reviewed, approved or otherwise endorsed by the credit card issuer. This site may be compensated through the credit card issuer Affiliate Program.
*The content in this article is accurate at the publishing date, and may be subject to changes per the card issuer.