Community college transfer pathways, whereby students begin their postsecondary enrollment at a 2-year institution, are an increasingly popular option for students looking to complete a bachelor's degree. Designed to increase transfer efficiency, articulation agreements between community colleges and 4-year institutions provide structured pathways for students to transition between colleges while minimizing excess credits earned and time to degree. This study examines the early effects of North Carolina's statewide credit articulation agreement on students' credit-earning behaviors. Using difference-in-differences and event study analyses, we use administrative data from the 16 University of North Carolina (UNC) System institutions to examine how the implementation of the Comprehensive Articulation Agreement (CAA) impacts credit accumulation for students transferring from North Carolina Community College System (NCCCS) institutions into the UNC system. We find that, in the first 4 years after implementation, the CAA decreased credit accumulation upon graduation by two to five credits for some students who were enrolled in CAA-eligible degree programs. Additionally, we found that the policy had a delayed effect with no discernable reduction in credit accumulation until 1-2 years after policy implementation.