I’m seeing more of these types of products pop up. It makes sense given that it’s an easy way to incentivize environmentally-friendly behavior. And please note: this post is not an endorsement of FutureCard. It is an endorsement of the concept which allows everyone to participate, and unlike many government incentives, has the potential to alter behavior through easily attainable and understandable incentives.
The real question for FutureCard and similar products is: can they alter the behavior of people that wouldn’t normally make environmentally beneficial buying choices? Or, are they simply rewarding those that already do? If they only accomplish the latter, they will have little or no positive impact.
FutureCard from Future is a Visa debit card. Aa a debit card, there’s no credit threshold and no monthly fees. Anyone can get it. They even pay a small interest rate (currently 2.72%) on any cash balance.
It acts much like any rewards card providing cash back on purchases. The difference is in the case of FutureCard the type of purchases that qualify are “green.”
The company’s website includes a marketplace that lists qualified products. Currently eligible products include refurbished Apple watches, conflict free diamonds, bamboo Sateen sheets, secondhand books, dog sweaters, and watches, and compostable trash bags, to name a few.
The truly unique aspect of FutureCard is FutureCoins. Earning these takes more effort. FutureCoins are earned by completing Missions in the Future app. Each coin represents a reduction of one metric ton of carbon emissions. The initial value of a coin is $90, but this could change over time.
You have to sign up to go on a Mission, so I wasn’t able to see exactly what these missions entail. The examples cited on the website were buying refurbished tech, switching to an EV, or signing up to community solar.
Given the low barrier to entry, if FutureCard begins to gain traction, I would expect numerous copycats to emerge.
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