Bright Planet plans to launch the first U.S. credit card that cancels out your carbon footprint, according to AP reports.

The Vermont company announced the scheduled launch of the Bright Card for May 2007.  Rather than give reward points to the card holder, Bright Planet (http://www.brightpla.net) will invest the equivalent of the points earned into clean-energy projects.

The more you spend, the less you cost the planet.

A carbon footprint is basically how much carbon dioxide you emit into the atmosphere. You emit CO2 every time you breathe, but it comes mostly from the use of fossil fuels – gasoline exhaust from cars, planes and boats, and non-renewable electricity from households. The average American contributes 21 tons of CO2 to the atmosphere per year, according to a report commissioned by Clean Air-Cool Planet in December. 

Bright Planet will initially focus on supporting renewable energy resources such as wind turbines, though it plans to expand its portfolio as Bright Card membership grows. Cardholders will also be able to see where their dollars go and how their reductions are taking place.

The company has not announced whether the card will be a MasterCard, Visa or other type of card. Patti Prairie, a former senior vice president at American Express is Bright Card's CEO.

Bank of America has announced that it's also planning a green credit card for the U.S.  The Dutch bank Triodos has an ecological VISA credit card, while Rabobank, also in the Netherlands, offer a “climate credit card” in cooperation with World Wide Fund for Nature. An eco-friendly division of the Mercedes Car Group called “smart” offered credit cards in England that would offset the yearly CO2-output produced by the brand’s tiny two-seaters.