Can spending help save the Earth?

By Bankrate.com

Credit cards used to come in standard, gold and platinum. Now there's green, too.

Following other businesses that are going "green," the credit card industry is tapping this market. General Electric, Bank of America, Wells Fargo and Brighter Planet all have environmentally friendly credit cards on the market or in the works.

If you want to save the whales, offset carbon-dioxide emissions or contribute to another green cause, it is now as simple as swipe and sign.

With an environmentally friendly credit card, the card issuer donates a portion of your purchases -- typically 1% -- to a green cause. Sometimes the consumer gets to choose the specific cause, but most often the money goes to a general fund from which contributions are made to a variety of causes of the affiliate company's choosing.

Find the best cause for you

The Internet is an easy way to target a green cause that appeals to you.

"I think especially consumers who are environmentally conscious will want to make sure they're supporting good causes, causes they are familiar with, causes that they feel comfortable with," says Curtis Arnold, the founder of CardRatings.com.

• Special coverage: Keeping your money green

Arnold says that the waters can get muddy when you're trying to research which organizations benefit from donations from a credit card issuer.

He says the best thing to do is ask card issuers directly. Ask exactly what causes or products you can support that are environmentally friendly. Some of the issuers have their catalogs online and will allow you to look at them.

"Some will say you will just have to get the card and then find out. Don't ever settle for that answer," Arnold says.

Many credit cards add green causes as an option to their existing rewards program -- meaning your donations go to one pot for one or more causes, not a specific cause that you might want to support.

"Really look at (the card) with a magnifying glass to find out some more information, because, ideally, you want them to give you the ability to support the cause of your choice," Arnold says.

Do green cards stack up?

Going green does have a slight drawback. There are more competitive cards if you do an apples-to-apples comparison.

Generally, you can expect an interest rate about 1% higher than other credit cards, Arnold says. Otherwise, the terms and conditions -- such as over-the-limit, balance-transfer and late fees -- are comparable.

With the Chase World Wildlife Fund card, which donates proceeds to the World Wildlife Fund to help save endangered species and protect endangered habitats, the variable rate ranges from 14.24% to 23.24%. The interest rate for the GE Money Earth Rewards card, which automatically contributes up to 1% of card purchases to buy greenhouse-gas emissions offsets, is slightly more competitive, with the interest rate ranging from 12.99% to 18.99%.

Naturally, the better your credit, the better your interest rate.

But Arnold cautions that once the rate is at or above the 17% range, it may be time to look elsewhere. "That is below par for sure," he says.

Looking for a fixed rate? Sadly, the days of fixed-rate cards are virtually over across the board, Arnold points out.

Continued: Some programs to consider

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