Reached their credit limit: Simon Fraser University begins charging $1,000 a day to credit card ushermen

BURNABY, B.C. (CUP) — In an effort to curb increased student debt arising from aggressive marketing, Simon Fraser University’s student union has decided to charge credit card vendors $1,000 a day to operate on campus.

A Simon Fraser Student Society committee, concerned about high student debt levels, discussed an outright ban on credit card vendors in December. The committee concluded, however, raising fees on credit card companies might have the same effect as a ban, while also bringing in more revenue if vendors remained.

The standard rate for off-campus, non-student businesses will remain $45 per day, while student businesses will continue to pay $30. Credit card vendors were previously charged a $65 daily fee.

Eighty per cent of the revenue raised from the credit card vendor program will be dedicated to the student union’s bursary.

Since the increase, there have been no credit card vendors on campus, said Byron Lee, an office co-ordinator at the student union. Lee said he believes this is due to the unexpected fee increase.

Many credit card vendors are actually smaller marketing companies, selling cards on contract from larger banks, said Lee, who handles bookings for the vendor program.

Despite their disappearance, he maintained the high fee isn’t a ban on credit cards. Rather, it’s a control, as banks are free to increase their budgets to accommodate the increase.

Chris Giacomantonio, student union president, said he would have preferred banning credit cards vendors altogether, but he now believes the fee hike is an effective alternative.

“This makes more sense. The number ($1,000) adequately reflects the damage that irresponsible lending has had,” he said.

Krista Vogt, student life co-ordinator at SFU, said she approves of any move to keep credit cards off campus.

“Make it as hard as possible,” she urged, adding the orientation program dropped credit card companies as sponsors several years ago.

“I guess students do need credit cards, but we shouldn’t be encouraging them with, ‘More debt, more debt, more debt!'” Vogt said.

-Derrick Harder

The Peak (Simon Fraser University)