I like the fact that your heart is in the right place and am glad to see people thinking outside of the box a bit. I suspect it would be difficult to implement exactly like this, from a practical perspective and due to sensitivities with the CC companies...though I don't have any firsthand experience with that aspect of it.
If you were thinking of giving away the vast majority of your referral income, then why not just consider doing the blog without the affiliate links to begin with? The end result is basically the same and then you're not bogged down with the links and possible issues that go with them.
Or like
Doctor of Credit mentions, just make a blanket commitment for certain charity donations. That way you're not specifically tied to giving back from affiliate links in particular.
All that said, there isn't anything
inherently wrong with CC affiliate links, other website revenue, or with running a blog as a business in general. It's whether or not the blogger operates with integrity and in a way that engenders long-term trust with a reader base. Just IMHO of course