Credit Card Issuers Pledge Support for Haiti
| January 15, 2010 |
It now seems that a day after millions of people learn that their donations to Haiti may be getting cut short due to a thing banks call a "transaction fee", issuers and networks have decided to put the word out on how they will help. As for the networks, both Visa and MasterCard have stated that they will waive their transaction fees, donate money to the Red Cross, and do something truly special. They have decided to match any contribution given by their employees to certain organizations that are on the forefront of relief efforts in Haiti.
When it comes to the issuers American Express has publicly stated that they have essentially waive the fees in the form of a rebate on contributions made on AmEx cards to relief organizations listed on the USRelief website. They are also donating $250,000 to the cause. Other issuers have decided to donate money as well. Issuer and donations amounts so far include:
- Wells Fargo Pledges $100,000
- Citi Pledges $2 Million
- Discover Commits $100,000 (Pledges up to $1 Million More)
- JPMorgan (Chase) Pledges $250,000
If you currently have a credit card from an issuer that is not listed, don’t worry too much as other issuers have other ways to make sure your whole donations is getting where you want it to be. As stated in an earlier blog posting entitled "Who Will Waive Their Fees for Haiti", Capital One traditionally waives any fees of charitable donations that are given through their own website.
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