First, College and University are not synonymous. A university must have at least 3 masters programs to qualify for university status.
In order to be a college that offers degrees you must have some sort of certification from the state or educational board. In order to offer diplomas or degrees (like AOS (Associates of Occupational Science) AAS (Associates of Applied Science) schools must teach subjects to fulfill certain requirements in math, english, history, etc... In my culinary school we were taught buisness math, food history, and a variety of business and cooking related writing projects. It is possible to earn a BA or a MA but those studies will probably be more centered around buisness, and food as a subject, not just cooking. It all depends on what the state or education board requires.
Just because it is being taught in a college doesn't mean that credits are transferable. For example many occupational degrees, religious education and other specialized education don't accept transfer credits. Even in conventional studies (math, english) schools aren't required to accept transfer credits or degrees (except when state laws say otherwise).
From what I understand a "certificate" is just an abbrieviated study program. Sort of a quick start to get you out earning, and so it might hurt you in the sense that employers need someone with a more solid foundation. Whereas a diploma means longer time studying. I have never seen an example where it mattered what type of degree you had. Diploma or not. I think the reputation of the school and what you studied is far more important. And experience trumps all.
One way it might make a differenc is that when schools offer a state recognized degree it is easier for students to apply and recieve state and federal financial aide. This is why many LCB programs are often part of a state run school.
Another thing to keep in mind. If you plan on taking continuing education, in whatever subject (BA etc..) having a minor degree could help you get accepted and some credits might even be transferable (My liberal arts college accepted almost a full year of my culinary arts studies.)
Keep in mind that I have often seen that LCB says it offers a "Diplome" this means nothing abroad, even though it is a French word. Most european industry look for certification similar to a strigent apprenticeship. If you plan on working abroad the LCB (in France) is seen by europeans as a school taken by housewives, amateurs, and foreigners, not individuals preparing to work in real kitchens.
"Just can't wait to get on the road again."