In response to federal funding cuts to research, the Stanford Endowment has unveiled an innovative new revenue-generating initiative: the Stanford Cardinal Credit Card, powered by Cardinal Dollars. The new credit card aims to bolster Stanford’s financial future while offering students, faculty, and staff a “convenient” payment option.
“Think of it like Dave and Buster’s—except without the cool arcade games, without the prizes, and really it only works at TAP, but only on Tuesdays and Wednesdays,” President Levin said at the launch event. “With federal funding for research tightening, we want to honor our commitment to academic excellence… and that requires creative solutions.”
Indeed, the Stanford Cardinal Credit Card is nothing if not creative. Users will be able to load their Cardinal Dollars onto the card, but only in increments of $37.89, $88.88, or $2,024.00. The card will also feature exclusive perks, such as:
0% APR for the first 6 days, followed by an interest rate equal to the cost of one unit of tuition.
A rewards program where every $1,000 spent earns 1 (one) meal swipe, redeemable only at Arrillaga Late Night, and only if it’s a leap year.
An elite “Dean’s Circle” membership for cardholders who spend over $50,000 annually, allowing them to stay at Green Library up to 3 hours past closing.
“We are so excited to be partnering with Stanford to launch this new initiative” Rick Johnson, spokesperson for the program stated, “Our mission is to foster financial literacy among students. With the Stanford Cardinal Credit Card, students will learn valuable lessons about budgeting, interest rates, and the crippling weight of unnecessary financial obligations.”
The Stanford Cardinal Credit Card is set to launch next quarter. Applications will open exclusively to students and faculty.
