As concern over student debt levels rises, lawmakers and campuses nationwide have turned their attention to credit card issuers and marketing practices aimed at students, Business Week reported. California, Oklahoma and Texas recently passed laws restricting credit card marketing on public campuses, joining 15 other states that already had such restrictions in place. In California, credit card marketers can’t lure students with free gifts; in Oklahoma, colleges can no longer sell student information for credit card marketing purposes; and in Texas, on-campus credit card marketing was curtailed, permitting marketing only on limited days and in certain locations. However, beyond the recent legislation, another type of state-sanctioned credit card marketing escapes serious scrutiny: affinity card contracts and marketing. Virtually every major university boasts a multimillion-dollar affinity relationship with a credit card company. Under these deals, the university can receive $10 million or more in exchange for offering credit card companies exclusive access to students, alumni and professors at school athletic events.
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Boone office at 828-262-0500, our Hickory office at 828-327-2240, email us, or use our online request form.