New Chicago credit card supports University students

"It's the only credit card that can have an immediate impact on the student body every time you use it," said Christine Love, Executive Director of the Alumni Association, which is sponsoring the program.

Each time the card is used to make a purchase, a contribution for student aid is made automatically to the University, at no additional cost to the cardholder. The funds generated by this program will help support a range of student aid, continuing Chicago's commitment to admitting students on the basis of talent and promise, Love said.

Other benefits of the University of Chicago Platinum Visa card include: no annual fee, a low 5.9 percent fixed introductory APR, a credit line from $5,000 to $100,000 and free balance transfers, as well as other services.

"The Alumni Association Board of Governors has wanted to offer different kinds of services to Chicago graduates for some time," said Love. "After much deliberation, they decided that a University credit card could provide alumni with a unique connection to Chicago while benefiting a wide range of students."

The Alumni Association was also impressed with the success of similar credit card programs at other universities.

"Columbia, Brown and the University of Pennsylvania all offer their own credit cards," Love said. "The Sierra Club has also generated significant funds by offering its members their own affinity credit card."

To apply for the University of Chicago Visa card, call 1-800-FIRST USA. The Alumni Association has also sent the first of several direct-mail letters to alumni, containing information and application forms.