Credit Card News
Advertising Disclosure
Credit-Land.com is an independent, advertising-supported web site. Credit-Land.com receives compensation from many credit card issuers whose offers appear on our site. Compensation from our advertising partners impacts how and where their products appear on our site, including, for example, the order in which they may appear within review lists. Credit-Land.com has not reviewed all available credit card offers in the marketplace.
Credit Card Applications » News » Other » Affinity programs` success due to frats, soros, orgs

Affinity programs` success due to frats, soros, orgs

By
Add to Favorites:
Affinity programs` success due to frats, soros, orgs

The Federal Reserve recently revealed on its Report on College Credit Card Agreements not only the major credit card issuers in the market but also instrumental keys to the success of college affinity programs.


The college affinity programs included contracts for review by the Federal Reserve. The contracts reveal that they are made by the credit card company with fraternities, sororities, and various organizations for professionals.


Credit Chase researcher Alan Banz said that the money that the credit card industry paid colleges and universities to gain access to their market could have also been coursed through these groups in the past. He adds that these groups then had been very instrumental to the introduction of credit card programs in the college or university. Banz believes that it is through these groups that the extent of the college affinity programs impact had been fully realized.


It can be said that the pervasiveness of the credit card industry has affected even the most financially unstable of all the markets including those who are aged 21 and below. Banz argues that individuals in this market who are in the education sector usually have affiliations in the forms of their fraternities and sororities as well as organizations catering to their interests.


More importantly, these same groups are often the recourse for other entities to market themselves to the student populace. He says that these groups are seen as often non-profit and associating causes and interests with them under their mutual benefit and cooperation is what the credit card industry saw as a good chance to expand markets.


Banz opines that the college affinity program agreements made with different college or university fraternities, sororities, and organizations also made it easy for credit card companies to delegate their attendance to the varied credit card needs of the individuals in the market. This time, the operations of the credit card industry happen on a manageable scale in cooperation with those involved in the range of affinity programs.


On the other hand, the students found it even easier to apply for credit card accounts and eventually open them because they find themselves in a support group which legitimizes the practice.


Also with the global economic recession along with hikes in tuition, renting or accommodation, and food and transportation allowances, Banz said that students have had the added internal recognition of their need for credit cards alongside possible external factors affecting their decisions such as those contracts made by their fraternities, sororities, and organizations with different credit card companies.

Add to Favorites:

Related News:

Fifth Third Bancorp Upgrades App

By Dar Dowling, Posted: January 20, 2017

Fifth Third Bancorp has upped the ante when it comes to their mobile app, in terms of how many ways users can pay for merchandise – now letting them make payments with all of the available payment platforms. Continue reading
New Credit Card by Amazon and Chase

By Dar Dowling, Posted: January 19, 2017

Amazon.com, Inc. and Chase have joined together to roll out the new Amazon Prime Rewards Visa Signature Card offering 5% back on all Amazon.com purchases. Continue reading
Wix and Square Team Up to Make Payments Easier

By Dar Dowling, Posted: January 18, 2017

Wix, a cloud-based web development platform letting people set up a wide range of websites, is teaming up with Square to provide merchants and entrepreneurs a new method of taking payments for products and services bought online and in ... Continue reading
Get the latest news, articles and expert advice delivered to your inbox. It's FREE.
Unlimited 1.5x rewards on every purchase, every day. For every $1 you spend, you earn 1.5x Miles.
For Excellent, Good Credit
You could turn $200 into $400 with Cashback Match™. We’ll automatically match all the cash back you earn at the end of your first year. New cardmembers only.
For Excellent, Good Credit
Guaranteed $500 Unsecured Credit Limit
For Bad Credit