The first card designed for the circular economy
SILVER SPRING, December 30, 2021 –Visa FutureCard is the first card to offer attractive rewards for circular fashion as part of Future’s mission to simplify the transition to climate-smart living and help members decarbonize their life.
Today, just in time for New Year’s resolutions, FutureCard added over 20 new fashion brands and fashion marketplaces to their top 5% cashback rewards category. This includes Levi’s SecondHand, Patagonia Worn Wear, The North Face Renewed, lululemon Like New, Rent the Runway, thredUP, REI good & used, Poshmark and many others.
Cardmembers can now enjoy even more savings when shopping secondhand at major fashion brands. Did you know gently worn clothes in excellent condition are sold at a fraction of the cost of a comparable new item at many premium brands? With the FutureCard, there’s now an additional instant 5% cashback. Finally, and perhaps most importantly, giving a second life to that pair of slim fit pants or that killer dress means dramatic savings in carbon emissions! That’s a triple gain for you and the planet.
The fashion industry contributes around 10% of global carbon emissions, that’s as much as the whole airline and maritime shipping industries combined. Based on EPA findings, around 85% of all textiles end up in landfills in the United States — the average American throws away around 75 pounds of clothes every year.
As more and more clothing fills up our landfills, we are also buying more clothes than ever. In fact, the average consumer now buys 60% more clothing than they did 15 years ago according to a McKinsey study. Researchers at Glasgow Caledonian University found that clothes at fashion brands built for shoppers constantly looking for the latest trends often last for no more than 10 wears. Fast fashion comes at a price – not just at the checkout.
Globally, only 12% of the material used for apparel ends up in recycling. Our fashion industry is resource intensive, much of which are non-renewable resources. This includes petroleum used to make a lot of the world’s synthetic fiber and large amounts of electricity and water needed to produce cotton textiles.
Secondhand shopping is good for the wallet and good for the planet. At Future, we’re creating tools to make it even better for your budget. The transition to the net-zero economy is possible. Some shifts will be hard. Saving money on those comfortable pants at lululemon Like New, a warm winter jacket at The North Face Renewed or a durable backpack at Patagonia Worn Wear is not.
For more information, have a look what each brand is doing to support circular, more sustainable fashion: Levi’s SecondHand, Patagonia Worn Wear, The North Face Renewed, lululemon Like New, Rent the Runway, thredUP, REI good & used, Poshmark, Arcteryx Used Gear, Goodwill, Reformation, The Real Real, RE/DONE