Taxpayer-owned Lloyds Banking Group is pulling out of the charity credit cards market, because it says that offering cards that donate to good causes is "no longer cost-effective".

The company has been offering these cards for over 23 years, but has written to customers informing them that their charity cards will be replaced by standard credit cards that do not offer a charity donation. The charities hit by the withdrawal include Cancer Research UK, which has received over £15m from the credit cards. as well as the NSPCC and the Scottish SPCA. Lloyds said it had offered to help each charity find a new issuer "should that be the route they wish to pursue in the future". Charity credit cards, which are still offered by other providers such as MBNA and the Cooperative Bank, work by donating a small percentage of the amount spent on them to charity. Typically the charity also receives a larger amount th first time that the card is used....Read more here--: Lloyds Bank pulls out of charity credit card market - Telegraph