Virgin Money launches charity credit card

Virgin Money, the UK-based financial services company, has launched a new charity credit card .

Under the terms of the credit card, customers are able to donate one per cent of their spending to a charitable organisation of their choice, while it will also enable Gift Aid for cash back.

According to Virgin Money, once the Gift Aid is factored in, the credit card will increase cash back donations to one per cent, which is more than any other deal available on the UK market.

Scott Mowbray, spokesman for the bank, said: The Virgin Money charity credit card is an easy and convenient way to support good causes and the addition of Gift Aid ensures charities get the maximum benefit from donations.

Virgin Money is owned by the Virgin Group, which was founded in 1995 by the billionaire entrepreneur Sir Richard Branson.

The company offers a number of products, the majority of which are run in conjunction with other financial service providers.