Can the right credit card really save the planet? It might in the hands of a James Bond who uses it to force the lock, enter and stabilise a nuclear reactor faced with imminent meltdown. Seriously, and more prosaically, can you go 'green' with a credit card without first enduring the red hot zone of debt?

Possibly, but you could find it makes better financial sense to choose a low interest credit card deal best suited to your needs and then make separate donations to your favourite environmental or charitable cause.

Such a decision has been brought back into focus by the launch earlier this month of Barclaycard Breathe. Touted as a way of giving people across the country a greener option, 50% of Breathe profits will be donated to environmental projects dedicated to reducing carbon emissions around the world. In fact Barclaycard CE Antony Jenkins has guaranteed a £1 million donation in the first year of operation.

The credit card claims to offer a greener customer experience: no paper statements online only; the use of the more environment friendly material PETg, instead of the current PVC, for card construction; and a recycling scheme for old cards when new ones are issued.

Breathe cardholders will benefit from discounts such as £50 off British Gas home insulation and 10% off Halfords cycles and accessories. The low interest rate of 5.9% APR applies when the card is used on most public transport systems except, tellingly, Transport for London; otherwise the annual percentage rate is a reasonable 14.9% with 0% on balance transfers for six months.

Profit donations made by Barclaycard will be administered by an independent third party who will select projects to be supported and certify that these have helped reduce carbon emissions. Card customers will receive regular online updates detailing the recipient projects and amounts given. If green support doesn't appeal you might consider a charity credit card. There are several on the market, some of which may be donating to organisations with which you have empathy.

Last year, for instance, American Express introduced the Amex Red credit card. With the approval of U2 frontman Bono, this card donates 1% of your spend to the Global Fund which is fighting Aids, tuberculosis and malaria in Africa.

Keep on spending, stay in debt?

Amex Red APR 12.9% and similar charity cards rely on you to keep spending in order to generate donations; paying off your balance each month shouldn't affect the amount of gifting. In contrast, Barclaycard Breathe's green contribution size depends on its profit level. Profits will be generated by cardholders who rack up their interest payable because of increased debt and the disinclination or inability to make more than the minimum monthly repayment.