Update 5/4/22: Card is now live for anyone to apply. Comes $300 signup bonus after $3,000 spend and $60 annual fee, valid through 6/30/22.
Original post: Aspiration plans to launch a credit card called ‘Zero‘. This new card will offer the following benefits:
- 1% cash back on all purchases when you reach carbon zero, otherwise the base rate is 0.5% (need to plant 60 trees per month to become carbon zero. This is adjusts monthly based on your spending patterns)
- One tree planted for every purchase. Second tree is planted when you round up to the nearest dollar (e.g if your purchase is $1.90 you can round up and donate $0.10 and a second tree is planted)
- $60 annual fee not waived
- Ten trees will be planted for every friend you refer
- Biodegradable card
Currently the card is in early access, so you need to join the waitlist before being eligible to apply. Can’t really see this being that interesting for most people with the low earning rate and the annual fee. I do care about the environment and thought I could supercharge my impact with small purchases, but the annual fee more or less kills that idea.