Buy It on Credit and Be True to Your School

In: Business and Management

Submitted By dlips2wo
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Ethics Case 1
Buy It on Credit and Be True to Your School
1. Should universities enter into agreements to offer affinity credit cards to students?
In my opinion, I say no! Universities should not enter into agreements to offer affinity credit cards to students. Credit card companies are promoting through a number of channels to reach students. They offer select affinity card arrangements intended to bypass marketing limits.

Universities are founded to prepare students to enter the real world. Universities were not founded to make profit, they are an institution for education. Where students go to learn, and the student should not be used as tools for profit. Consequently, educational institutions shouldn’t enter into agreements to offer affinity credit cards to students.


Examination of affinity agreements involving some of the nation's largest and most prestigious colleges revealed that schools and alumni associations:

• Sell students' personal information. Many are contractually obligated to share students' names, phone numbers and addresses with banks.
• Earn royalties: Banks typically pay schools $1 for each student who keeps a credit card open for 90 days. When students carry a balance, some schools can collect up to $3 more per card.
• Cash in each time a student uses plastic: Many schools are entitled to receive 0.4 percent of all retail purchases made with student cards.
• Benefit from marketing incentives: When a university or alumni association agrees to market cards to students itself, the payoff is greater -- sometimes up to $60 for each card opened through a school's own marketing.
• Offer special perks: Banks sometimes gain special access to athletic events. Cornell University must provide Chase Bank with tickets and "priority" parking passes at football, basketball, hockey and…...

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