Bank pays Univ. millions to market credit cards

Yale has been providing Chase Bank with the names and contact details of alumni, staff and sports fans for the past three years under a deal worth $7.98 million, according to an article published Monday in the Connecticut Post.

The seven-year deal, which remained secret until the enactment of the Credit Card Accountability, Responsibility and Disclosure Act this year, stipulates that Yale must pass on contact information for about 136,000 staff and affiliates each quarter, the Post reported. In return, Yale receives annual payments, as well as $3 for every new credit card account and $100 for accounts set up through certain promotional campaigns.

Under the contract, Yale may exclude students and those who have requested not to be contacted by marketers, but Chase retains the right to contact students on the national do-not-call list, according to the Post.

“We always envisioned it as just for alumni,” Yale spokesman Tom Conroy told the Post. “Yale has never elected to market affinity cards to students.”

Gail Hurdis, a spokeswoman for Chase Card Services, told the Post her company does not market to students on or near college campuses.

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