FutureCard Visa Review: Get Cash Back on Climate-Friendly Purchases

FutureCard is a new charge card that gives you 5% cash back on eco-friendly purchases like EV charging. Learn about its pros and cons and decide if it’s a good option for you.

SustainFi   Updated April 22nd, 2022

Futurecard Visa

Annual feeNone
APRNone
Cash back5% on climate-friendly purchases, 1% on everything else
Bonus$25

  • FutureCard is a charge card issued by First Electronic Bank, Member FDIC, pursuant to a license from Visa USA Inc

Pros

  • Easy and quick to sign up with your bank account
  • 5% cash back on “green” purchases, 1% on everything else
  • Helps modify your spending behavior
  • Get a FutureScore for your contribution to climate change
  • No fees or interest
  • No credit check

Cons

  • 5% cash back applies to $25,000 in eligible spending per year, after that you get 1%
  • Most of your daily purchases likely won’t qualify for 5% cash back
  • The card doesn’t change what your bank deposits are funding

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What is FutureCard?

FutureCard is an eco-friendly charge card that gives you 5% cash back on spending with a lower carbon footprint (and 1% on everything else). Unlike credit cards, charge cards don’t charge interest, but they also need to be paid in full each month.

Examples of eco-friendly purchases include:

According to FutureCard, roughly 50,000 places in the U.S. qualify for 5% cash back. The 5% rate applies to $25,000 of eligible transactions in a calendar year. After that, a 1% rate applies.

The card was launched in late 2021 by Future, a Maryland-based fintech startup.

According to Future, regular credit cards give you cash back on all spending, including spending with a high carbon footprint like gas. (Green fintech Aspiration gives you more cash back if you shop with the Conscious Coalition of several popular brands, but the number of brands is limited.)

FutureCard wants to change how you spend, so rewards work to modify your behavior. The card is based on the premise that your spending decisions are more important than planting trees when it comes to climate. The company rightly argues that we can’t plant enough trees to offset every American’s carbon footprint, so more drastic action is required.

How the FutureCard works

FutureCard is not a credit card, so there are no fees and no APR. The card links to your bank account, so there is no credit pull. The card is accepted everywhere Visa is accepted.

However, there is a big difference between FutureCard and green bank accounts with debit cards from neobanks like Aspiration, Ando, and Atmos. While these green fintechs accept deposits and promise not to use them to fund oil and gas exploration, FutureCard doesn’t offer a bank account.

And if you bank with a big bank, you are probably indirectly funding fossil fuels. An eco-friendly FutureCard won’t solve that underlying issue by giving you cash back.

🔔 Check out the list of green banks that will never use your deposits to fund fossil fuels.

Future App

The FutureCard syncs with the Future App, available on iOS and Android. The app is designed to help you understand your contribution to climate change. You get a FutureScore and earn ClimateCoins and unlock tickets to win weekly prizes. So far, the app is pretty new, with seven ratings in the App Store.

Credit: FutureCard

Is FutureCard safe?

The card, which is issued byFirst Electronic Bank, Member FDIC, features standard security features like a Visa chip, biometrics, multi-factor authentification, and encryption. You can also freeze your card using the app. 

💰 Should you get the FutureCard?

  • FutureCard helps you modify how you spend, rewarding you for eco-conscious purchases. That makes a lot of sense. It’s particularly attractive if you spend a lot on EV charging.
  • However, the card links to your existing bank account, so if your bank funds fossil fuels (most of them do), you do as well even if you get a FutureCard. If you are looking for green banks that don’t fund oil and gas and offer cash back rewards, also check out Aspiration and Ando.

🔔 See how FutureCard compares to Aspiration Zero and Ando.

Frequently Asked Questions

Is FutureCard a credit card?

No, FutureCard is a charge card that links to your bank account and doesn’t require a credit check.

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