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What makes a credit card sustainable? Which banks offer them? What do they cost, and how do you apply? In this piece, we look at the sustainable credit cards offered by three green banks: GLS Bank, Triodos Bank and EthikBank.
By Nancy Wegner
GLS Bank’s sustainable credit cards
GLS Bank is a cooperative bank and considers itself Germany’s largest sustainable bank. It counts nearly 50,000 members and around 500 employees, with branches in major cities like Berlin, Hamburg, Munich and Frankfurt. What sets it apart is its refusal to invest in broader European markets, choosing instead to back sustainable businesses within Germany so they can operate successfully with social and environmental responsibility in mind.
Applying for a sustainable credit card with GLS Bank requires a current account, which costs €3.80 a month. The annual fee for a Mastercard Classic runs to €30.00, while the Mastercard Gold costs €75.00 a year. Cash withdrawals on either card incur a 2 percent fee on the amount withdrawn. Card payments are generally free within Germany and the EU, though an extra 1 percent fee applies elsewhere. Worth noting: GLS Bank charges an annual fee of €60.00 to offset its low interest rates while still ensuring it can operate successfully.
Triodos Bank’s sustainable credit cards
Triodos Bank calls itself “Europe’s sustainability bank” and was founded in 1980 by the Dutch Triodos Foundation. It currently operates in six countries and serves more than 700,000 customers. The bank’s mission is to back projects that leave a lasting, positive mark on the environment and society, with its three biggest areas of investment being the environment, social causes and culture — funding solar and wind farms, educational institutions and fair-trade goods, among other ventures.
A current account at Triodos Bank costs €4.50 a month and comes paired with a Mastercard that costs €30.00 a year and allows fee-free cash withdrawals worldwide. What sets this Mastercard apart is that it’s made entirely without plastic — the first credit card built from renewable raw materials, specifically the bioplastic polylactic acid, derived from plant sources like corn.
EthikBank’s sustainable credit cards
EthikBank, part of Volksbank Eisenberg eG, describes itself as an “ethical-ecological direct bank.” It holds itself to strict investment criteria built around absolute exclusions and positive criteria alike. Off-limits entirely: investment in clients involved in arms dealing or nuclear power. On the positive side: clients running environmental protection projects, championing workforce equality and diversity, and creating and sustaining jobs. Projects the bank supports include energy-efficient housing, electric mobility and renewable energy.
The bank also rests on other pillars, including regular ethics reviews — companies are checked periodically to confirm they meet ethical standards. There’s also the principle of the “glass bank,” which guarantees transparency: customers can look up exactly which securities their money has been invested in and who has received loans at any time. The bank also funds one environmental, one women’s and one ethics project each year.
Getting a credit card from EthikBank requires a current account, which costs €8.50 a month, with the Mastercard itself costing €35.00 a year. Cash withdrawals carry a minimum fee of €2.50, while card payments are fee-free both in Germany and abroad.
The takeaway
The credit cards from these three banks can genuinely be called sustainable, since the fees customers would otherwise simply hand over to a bank are instead channelled into social and sustainable businesses and projects. If you’ve been thinking about switching banks, these three alternatives are worth a look.
