Visa goes off to varsity
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.CAMBRIDGE University is to have its own credit card, available only to its graduates and staff.
The exclusive Visa card will be issued by Beneficial Bank, which pioneered alumni credit cards as a way of generating extra income for academic institutions with the launch four years ago of the Open University card. Since then the 'affinity' Visa card has earned the Open University an extra pounds 500,000.
The universities of Leicester, Bath, Westminster, Middlesex, Wolverhampton, Oxford Brookes and Imperial College have launched cards, and more schemes are planned next year.
The Cambridge card - which bears a striking photograph of the Senate House - has no annual fee and an attractive APR of 20.9 per cent. Cardholders can also open a current account and can have up to pounds 10,000 credit.
The university's staff and all Cambridge alumni provide a market of more than 100,000 potential cardholders.
The university will receive an initial payment for each account opened, as well as income on subsequent card usage. The extra revenue will be used for unexpected or urgent requirements.
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments