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Higher Ed in the News

Credit cards bearing university logos costly for issuers

November 4, 2010

Credit-card issuers paid Colorado schools and alumni groups more than $1.3 million in marketing agreements in 2009, according to information the issuers provided to the Federal Reserve Bank under the Credit CARD Act, which requires the disclosure.

Colorado students and alumni obtained 1,839 credit cards in 2009, federal data shows.

Nationally, card issuers paid schools and affiliated associations more than $83 million — three-quarters of that by Bank of America, which had the bulk of the agreements reported to the federal government.

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