FSU Students Get Raw Deal

July 17, 2008

FSU Credit Card Bank of AmericaStudents at Florida State University are subsidizing the school’s big time athletic program through an exclusive credit card that charges up to 3 percentage points more than the competition. 

Fundraisers and school officials agreed to the higher interest rates in a deal designed to funnel at least $10.7 million dollars to the Seminole Boosters, a group that raises money for FSU athletics. The Boosters collect part of every transaction. Read the Consumer Warning Network story uncovering the practice.

Six of 10 credit card offers from other banks afford students a better deal. See the chart below.