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Friday, October 24, 2008

The Credit Card: Arguably the Best Card of All Time

Written by DR

kiva credit card 0% balance transfer
Kiva, the charitable organization that funds business loans in the developing world, has just introduced the Kiva credit card. And it is arguably the best credit card offer ever, period. From a 15 month 0% balance transfer offer, to no annual fee, to cash back on charitable contributions, the Kiva business credit card has it all. And Advanta, the issuer behind the credit card, will even match charitable contributions to Kiva up to $200 per month. Here are the details.

Kiva BusinessCard
The Kiva BusinessCard
  • 0% Intro APR on balance transfers for 15 months
  • No annual fee
  • Get 5% Statement Credit on Your First $1,200 Each Year in Grants to Kiva, Charitable Donations and Other Purchases
  • $0 Fraud Liability
  • Advanta Will Match Your Grant to Kiva…Dollar for Dollar
Transfer Fee
15 Months
3% ($90 max)
Up to 5%

About Kiva is a person-to-person micro lending website, enabling individuals to lend money to entrepreneurs in the developing world. The loans do not pay interest to the individual lender; instead, paid interest goes to cover costs of the microfinance institutions processing the loans. Once a Kiva loan is repaid, the individual lender can withdraw the money, or they can reinvest in a new Kiva loan.

The Kiva Credit Card

The Kiva credit card is designed to encourage charitable giving while offering a top notch credit card. First, every time you make a grant to using the card, Advanta will match the grant dollar-for-dollar up to $200 per month. You can watch a short video describing this feature of the credit card at Kivab4b.

Second, The Kiva card offers a 5% statement credit on all grants made to Kiva, other charitable contributions, and other qualifying purchases (e.g., gas, computers, office supplies, online advertising) made with the card up to $1,200 annually. At 5%, this is potentially a $60 rebate that is credited to your statement.

Third, in addition to the matching Kiva contributions and cash rebates, the Kiva credit card offers exceptional terms:

  1. 15 month balance transfer: As regular readers know, I’m a huge proponent of balance transfer offers. A 15 month 0% APR on transfers is one of the longest balance transfer offers available. There is a balance transfer fee, but it is capped at $90, which is reasonable for a 15 month offer.
  2. 7.99% Fixed APR: With any balance transfer offer, it is important to know what the interest rate will be after the low interest introductory period expires. The Kiva card’s interest rate is just 7.99%, which is extremely low for a credit card.
  3. No annual fee: Enough said.

There are two additional things to note about this card. First, it is for individuals with very good credit. Second, although it is a business card, individuals can apply. Simply list your name as the business name on the online application. Here are more details and a link to apply for the card online directly with Advanta.

The Kiva BusinessCard
    The Kiva BusinessCard
  • Advanta Will Match Your Grant to Kiva...Dollar for Dollar
  • Unbeatable APR - 0% on Balance Transfers for 15 Months, and 7.99% Fixed APR Thereafter
  • Get 5% Statement Credit on Your First $1,200 Each Year in Grants to Kiva, Charitable Donations and Other Purchases*
  • No Annual Fee
  • $0 Fraud Liability
  • *See Terms and Conditions for Important Information, Benefits, and Limitations


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