UT Credit Card

In 1998, following solicitation of proposals from several banks and credit card companies for an affinity card, UT entered into an arrangement with First USA Corporation, a subsidiary of BANC ONE Corporation, that provided for a seven-year agreement guaranteeing UT $2.3 million per annum and allowing First USA to use UT logos on credit cards and to solicit UT alumni and students to obtain the cards. The university subsequently changed its provider to Chase Bank.

The credit limit for enrolled students was $1,000, and only individuals over 18 could receive the card. First USA made available eight University of Tennessee Platinum Visa cards, representing UT’s campuses and their athletics programs. Proceeds from the cards partially funded the Trustees Scholarships. In spring 2000, a CBS Evening News report on the credit card debts of university students aired, which featured UT students who were having difficulty dealing with their finances after accepting the affinity card.

In 2010 federal law required that companies disclose agreements with higher education institutions and related groups, such as fraternities and sororities. The first required report (October 2010) showed that in 2009, credit card companies paid $83.5 million to colleges. The report also showed that UT’s $1.4 million payment from Chase Bank was one of the eight most lucrative agreements in the nation.

The program was transferred to the UT Foundation, upon its establishment, and was ended by the current bank affiliate in 2014.

Citation Information

The following information is provided for citations.

  • Title UT Credit Card
  • Author
  • Keywords UT Credit Card
  • Website Name Volopedia
  • Publisher University of Tennessee Libraries
  • URL
  • Access Date July 14, 2025
  • Original Published Date
  • Date of Last Update October 16, 2018