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Launching the college credit card agreement database

Recently we released the 2012 Annual Report to Congress on College Credit Card Agreements, as well as a database where you can read individual agreements. The report shows that the majority of college credit card agreements are between issuers and affiliated organizations, such as fraternities, sororities, alumni associations, or foundations affiliated with or related to an institution of higher education.

Why do you collect this information?

Section 305 of the CARD Act requires that we collect information on agreements between universities (or organizations affiliated with universities) and credit card issuers that provide for the issuance of credit cards to college students as well as alums and other affiliated people. Issuers must submit the terms of any agreements they have with universities as well as data on the number of accounts covered by the agreement that were open at year end, number of new accounts opened in the calendar year, and payments made by the issuer to the university as part of the agreement, among other information. Previously, the Federal Reserve collected this information, and on July 21, 2011, the Consumer Financial Protection Bureau assumed this responsibility.

What does the data show?

From 2009-2011, the number of agreements, total number of accounts open at year-end, amount of payments by issuers to the university, and number of new card accounts opened during the year all declined. FIA Card Services, N.A. (“FIA”), a subsidiary of Bank of America Corporation, submitted 633 agreements, which represents nearly 80 percent of all agreements in effect during 2011.

In addition to monitoring college credit card agreements, we are also are monitoring the market for other student financial products. Learn about student aid disbursement cards and how to navigate managing your money for college at

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