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Khoth comments on 0.5% of amazon purchases to a charity of your choice (opt-in) - Less Wrong
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Comments (15)
Credit card companies seem to have enough money to pay airplane company something for frequent flyer miles. There are also cashback programs.
I think the credit card company gets something like 3% of the money you pay for transactions. Maybe it would be possible to have a credit card that pays automatically 1 or 2 percent of the purchase price to a charity.
It might be very high leverage for someone in the effective altruism movement to facilitate the creation of such a credit card. The card might be default move the money to GiveWell recommended charities.
Credit card companies don't have the best PR and I think there a good chance that they would welcome a project like that.
You can already get credit cards that donate some fraction of the money to charity. I expect the marginal PR gain from one of those charities being GiveWell-recommended would be pretty small.
The actual leverage of creating such a credit card would of course depend on uptake, and for an individual effective altruist, it would likely be better to find a credit card with a good cashback rate and donate the cashback, rather than using a charity credit card with a probably mediocre or bad rate.
Depends how much EA people are going to talk about it. I also think the whole is a good story for a journalist to tell.
If one of the EA organisations would go to Visa, I don't see any reason why they shouldn't be able to negotiate at least as much money as a good cashback card. From the perspective of Visa, giving money to charity is tax deductable. That might make it possible to get more money than the best cashback card.
So why haven't other charities which have got cashback cards succeeded in doing this?