Virgin Money in the UK has announced the launch of a rainbow credit card. Each time holders use the card in the first three months of purchase, Virgin Money will donate £1 to LGBT charity Stonewall.
In a press statement to accompany the launch of the card, a company spokesperson said: ‘As a business, we believe passionately in the freedom for our colleagues and customers to be themselves regardless of race, sexuality or background.
‘The launch of the Rainbow credit card celebrates that and showcases how we welcome with open arms the values behind that symbol – values of acceptance, diversity and love.’
In a statement to GSN, Will Byles, Head of Corporate Partnerships at Stonewall said: ‘Organisations have the power to effect change and at Stonewall, we believe that small acts can often have a remarkable impact.
‘The rainbow card design is an amazing initiative that came out of Virgin Money’s LGBT network group, and a small but simple way for Virgin Money customers can Come Out For LGBT while also supporting the work that we do here to improve the lives of LGBT people.’
What is Stonewall working on?
Identifying the areas where money raised could be put to good use, Stonewall gave several priorities for the coming years.
These include a reform of the Gender Recognition Act so that trans people in the UK no longer have to be diagnosed with a mental health condition to access treatment; more LGBT-encompassing anti-discrimination laws; and continued efforts to reduce LGBT hate crimes.
Virgin Money is not the first financial institution to experiment with rainbow-branded cards. Earlier this year, US Bank unveiled a rainbow debit card. It was chosen following a competition to find designs.
In an online poll conducted by GSN at the time, 7 out of ten respondents said they ‘love the idea’ of carrying a rainbow-branded debit card. Another 24% of respondents said they’d be happy to carry a rainbow card on the proviso the card provider donated to LGBT causes.