Social Credit Card

The Social Credit Card project is an effort to jumpstart the financial economy and create incentives for good works. How does it work? Credit card companies and banking institutions develop a social credit system whereby volunteer hours and other social activities (charitable donations, etc.) are tracked and assigned points. Those points, similar to frequent flyer miles, are redeemable for goods or services. The points can also be used to pay down debt and/or donated to other individuals or charities as a cash contribution. Ultimately individuals are better able to valuate their social capital contributions and motivated to contribute more to society. More economic activity will result, providing a boost for the economy.

To learn more about the concept read this article in the Christian Science Monitor, or join the discussion on The Social Bank blog/social network.