Part of its "ecomagination" campaign, The GE Money Earth Rewards Platinum Mastercard is being met with skepticism by some environmentalists.

THE DEAL: Instead of getting a 1 percent cash rebate on purchases, cardholders can earmark that amount for projects that reduce greenhouse gases. GE will keep a running tally of the amounts, and each Earth Day, it will use the total to fund projects that reduce emissions.

CAN IT MAKE A DIFFERENCE? GE says so. Twenty-five cents -- or 1 percent of a $25 purchase -- can offset a month's emissions from a refrigerator. Charge $750 each month, and your 1 percent, or $90 for the year, would offset air conditioning, driving and pretty much all of the activities that yield the 10,000 metric tons of greenhouse gases that GE says a consumer produces each year on average.

WHAT GE SAYS: "We are not sending a message that you can buy your way out of your environmental responsibility," says Lorraine Bolsinger, vice president of GE Ecomagination. "We're offering another tool in the kit for reducing carbon footprints."

WHAT ENVIRONMENTALISTS SAY: "It's ironic," says Michael J. Brune, executive director of the Rainforest Action Network. "GE supplies parts for coal-fired plants, so its credit card offsets emissions it helps create."

WHAT ELSE TO CONSIDER: Conflicts of interest. At myearthrewards.com, you get tips for reducing your carbon footprint, like buying compact fluorescent light bulbs and energy-efficient appliances that GE sells.

GE also is a player in carbon offset projects, both directly as an investor and indirectly as a manufacturer of wind turbines and other alternative energy devices.

THE TERMS: The card has no annual fee and will charge annual interest of 12.99 to 18.99 percent, depending on your credit history.

BEHIND THE PLASTIC: All applications must be online or by phone -- no paper. No direct mail solicitations. It will be advertised only on Web sites.

EVERYONE ELSE: There are similar credit cards available in some parts of Europe. Bank of America in March said it will also issue a carbon-offset program in the U.S. as part of its broader "green" card programs. It hasn't provided specifics on how the offsets will work. Citigroup's rewards include planting trees through its "Thank You" program.

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