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Discover Card entered the charity credit card market this month when they announced a new partnership with the Children's Miracle Network. Best known for its television fundraising events, Children's Miracle Network raises funds for 170 children's hospitals throughout the United States. Officials at Discover Financial Services told reporters that they hoped a repurposing of their existing cash back rewards platform would offer cardmembers a new way to help children in need.
Participating cardmembers earn a $100 donation for Children's Miracle Network upon making $500 in purchases during their first six months with the card. Like other Discover Card products, the new card offers members Cashback Bonus rewards of up to 5% on purchases. Cardmembers earn an additional 2% in Cashback Bonus rewards on any additional donations made to Children's Miracle Network. An online form makes it easy for cardmembers to donate their bonuses directly to Children's Miracle Network, stretching their dollars further.