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YALE paid millions to sell its alum list to credit card company
| Curious Cocky Kitty | 06/08/10 |
| Wine Antidepressant Drug | 06/08/10 |
| Sepia Love Of Her Life | 06/09/10 |
| Puce shitlib | 06/09/10 |
| Curious Cocky Kitty | 06/14/10 |
| Sepia Love Of Her Life | 06/14/10 |
Poast new message in this thread
Date: June 8th, 2010 7:14 PM Author: Curious Cocky Kitty Yale Paid Millions to Market Credit Cards
Updated 3:45 PM EDT, Tue, Jun 8, 2010
For the last three years, Yale University has been selling access to its alumni, staff, sports fans and potentially students. According to the Connecticut Post, the school signed a seven-year contract with Chase Bank in 2007 to help market its credit cards. The contract is officially called an affinity agreement. They were allowed to be kept secret until the Credit Card Accountability, Responsibility and Disclosure Act went into effect in February 2010. Under Yale's agreement, the university must give Chase lists and contact information for Yale members. Those on the list must be 18 years or older and Yale has the right to exclude students. Chase Bank tells the Post that it does not market to students on or near college campuses. The university gets annual payments under the agreement, plus $3 for every new account and $100 for new accounts gotten through a specific direct marketing campaign. The University of Connecticut's Alumni Association also offers a card to its alumni through Bank of America. A UConn spokesman notes the alumni association is a completely separate nonprofit entity. The Huffington Post Investigative Fund reviewed 17 of these contracts and found some universities targeted not just alumni, but students. Some contracts granted the universities bonuses when cardholders carried balances. Many granted the card-marketing firms special access to campus events. Rep. Patrick Murphy, D-Pa, told the Huffington Post, that the fact that schools are getting paid for students to rack up debt is a disgrace. College seniors graduated in 2008 with average credit card debt of more than $4,100, up from $2,900 four years earlier, according to data compiled by student lending company Sallie Mae. |
Date: June 8th, 2010 9:56 PM Author: Wine Antidepressant Drug so did harvard (http://www.autoadmit.com/thread.php?thread_id=1333055&forum_id=1#15196864) |
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Date: June 9th, 2010 2:31 AM Author: Sepia Love Of Her Life many colleges have affinity agreements with credit card providers. this is no big deal. (http://www.autoadmit.com/thread.php?thread_id=1333055&forum_id=1#15199393) |
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Date: June 9th, 2010 4:28 PM Author: Puce shitlib Subject: Fairly Slimy if its limited to non-students; incredibly slimy if it is extended to students, which I doubt it is. Is H also doing this as the OP asserts? H and Y should not act like Facebook. In fact, Facebook should not act like Facebook (guess its founder didnt take ethics at H). (http://www.autoadmit.com/thread.php?thread_id=1333055&forum_id=1#15202050) |
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Date: June 14th, 2010 10:40 AM Author: Curious Cocky Kitty I don't know about the Yale card, but the Harvard card is issued by Barclays only though the Harvard Alumni Association to alumni who apply for it.
http://www.financeglobe.com/Finance/card717.php |
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Date: June 14th, 2010 12:44 PM Author: Sepia Love Of Her Life you can apply for the harvard card without being an alumnus, but i don't know if it would actually get issued to you if you aren't one. (http://www.autoadmit.com/thread.php?thread_id=1333055&forum_id=1#15243637) |