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Friday, January 15, 2010

Maximizing Your Gift

Kudos from your Bloviator to a seemingly unlikely recipient, the Huffington Post; which yesterday reported credit card companies stand to reap bonanzas in fees generated from those making donations to Haitian relief organizations (with one notable exception: Capital One Bank).
As a massive human tragedy unfolds in Haiti, relief organizations are soliciting credit-card donations through their hotlines and websites. About 97 percent of these donations will actually make it to the designated organizations -- but the other 3 percent will be skimmed off by banks and credit card companies to cover their "transaction costs."
Credit card companies must have felt the heat because today, according to the New York Times,
Visa, MasterCard, American Express and Discover — announced that they would waive fees for some contributions aimed at aiding Haiti in the wake of a devastating earthquake. So more of the money you donate will find its way to the organizations providing relief.
Far be it from this blog to spew leftist verbiage on the "evil, greedy corporations" but it does strike one as mean-spirited for companies to profit handsomely from such a terrible disaster. Read the Times piece to learn the extent each credit card company will waive its fees. Should you still have doubts, and want to get maximum bang for your buck, all legitimate charities will post somewhere on their websites a mailing address to which you may send a check; and do give, it's a blessing to do so.

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