Do Colleges Profit from Credit Card Marketing on Campus? – Episode #47
July 30, 2008 by awjolls
Filed under Episodes, Student Credit Scores
Many colleges have programs with credit card issuers, as well as other vendors, for exclusive rights to market their products to college students. Just a quick Google search, shows a bevy of exclusive agreements that colleges have. My alma mater has deals with Adidas [for athletic gear], PNC Bank [for ATMs at the stadium], and our alumni association received at least $50,000 through a one-year marketing agreement with Chase Bank to market Chase loans.
Florida State University is getting paid over $10MM to market credit cards for Bank of America. The contract is a little unusual though as it’s being done through a booster organization.
Many students say they don’t want credit cards marketed on college campuses. Public Interest Research Group [PIRG] did a study on students and credit cards, 50% have a balance on their credit cards, 25% have late fees.
