Chase doubles AARP Visa Card donations during May
May 7, 2012
By: Megg Mueller
Chase Card Services has announced it will increase its donations from its AARP Visa Card to help fight hunger in older Americans during the month of May. The credit card company has committed to doubling its donations during May, which has been designated Older Americans Month.
Chase announced last year that during 2011 and 2012 it would make donations to the AARP Foundation in support of the Drive to End Hunger in the amount of 3 cents for every purchase made with the card, plus $1 for each new account opened. During Older Americans Month, Chase will donate 6 cents for every purchase and $2 for each new account opened during the month.
The AARP Visa Card is a cash back rewards credit card with no annual fee. Cardholders earn 3 percent cash back on travel-related purchases at airlines, car rentals, cruises, travel agents and more. All other purchases with the credit card earn 1 percent cash back. The credit card issues rewards in the form of points, which are then transferred into cash back percentages with 1 point worth 1 cent per dollar spent. To earn $25 cash back, a cardholder would redeem 2,500 reward points.
New cardholders are eligible to receive 10,000 bonus reward points after spending $500 in the first three months of account opening. The 10,000 points can be redeemed for a $100 check. Chase is offering 0 percent introductory APR on purchases and balance transfers during the first 12 months the account is open.
The APR for purchases and balance transfers after the introductory period is 16.24 percent; cash advance APR is 24.24 percent. Balance transfer fees are $5 or 3 percent, whichever is greater. Cash advances are $10 or 3 percent, whichever is greater, and foreign transaction fees are 3 percent.
Chase Card Services estimates that last year it contributed more than $1.6 million (equivalent to an estimated 750,000 meals) to the Drive to End Hunger.