The greening of credit cards
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But Arnold cautions that once the rate is at or above the 17 percent range, it may be time to look elsewhere. "That is below par for sure," he says. Looking for a fixed rate? Sadly, the days of fixed-rate cards are virtually over across the board, Arnold points out.

Meanwhile, Arnold cites a few other programs to explore, including:

Bank of America. The bank introduced the Brighter Planet Visa card in November, which allows cardholders to earn EarthSmart points with every purchase. One dollar in retail purchases earns one EarthSmart point, and 1,000 points equal one ton of carbon offsets. Cardholders can earn additional points by signing up for paperless statements.

Wells Fargo. This rewards program allows cardholders to support renewable-energy projects. Cardholders can use reward points, ranging from 5,000 to 10,000 points (translation $50 to $100), to buy renewable energy certificates, which support renewable electricity generation, such as wind power.

Citibank. Members of Citi's popular "ThankYou" points rewards program can redeem points for a range of environmentally responsible rewards. Cardholders will also be able to donate points to any organization of their choosing through the "Your Wish Fulfilled" rewards program.

Key card considerations

Some key considerations when deciding which card to choose are:   • What cause does the card support?   • How is the environmental cause supported?   • Are the terms and interest rate a good deal?   • Compare all the offers before signing up for a card.   • Would it be better to contribute to the organization by writing a check?

Cash back vs. reward points
A cash-back credit card may be a smart alternative to the rewards/points system.

"More often than not, with any kind of merchandise, you're going to come out ahead using the cash-back option," Arnold says. "The 1 percent is not very aggressive. What you can do with cash-back cards these days -- though there has been some scaling back in the last six months to a year -- is still get up to 5 percent (back) on purchases."

Discover Card and Blue Cash from American Express are just two well-regarded cash-back cards that offer a 5 percent cash-back return on common purchases, such as gas. This way, you can kill two birds with one stone: You can earn more money to donate to an environmental cause of your choosing -- and at a higher rate of return -- while also enjoying a tax deduction by writing your own check -- something not allowed with rewards program donations.