J.P. Morgan Chase is partnering with Facebook to be the exclusive credit card sponsor on the college social networking site for a year.

In time for the start of school, Chase begins running banner ads throughout Facebook, inviting members to join a Facebook-hosted group page of people who want to learn about, or sign up for, Chase's new "+ 1" credit card, writes MediaPost. The card promotion carries the tag line: "A totally new way to hook up your friends, yourself and your community."

Students will be able to earn rewards points by getting a card, referring a friend and taking other actions. Points toward DVDs and other college-oriented merchandise can be shared with others or donated to charitable causes or campus groups. Chase's Facebook page will also feature tips on credit and spending.