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GLOSSARY

Canadian Financial, Real Estate and Mortgage Glossary

How often this word is used
 
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50% - Moderately

Affinity Card


Synonyms:affiliation, alliance, association, branded together, in relation with, partnership
Filed Under: financial-banking
Tags: banking, debit cards
 

Definition of affinity card

affinity card
1. A type of credit card (usually Visa or MasterCard) that has an endorsement or sponsorship agreement with an organization, charity, or non-profit group in which a percentage of the sales transactions made using the card go to that organization. The logo or organization name is generally displayed on the credit card.

Related Terms and Acronyms:

  • cash cards   Cash cards, similar to pre-paid phone cards, contain a set amount of value, which can be read by a special cash card reader. Participating retailers will use the reader to debit the card in increments until the value is gone. The cards are like cash -- they have no built-in security, so if lost or stolen, they can be used by anyone.
  • co-branded card   A type of affinity card issued through a partnership or alliance between a bank and another retail company. For instance, a large department store may co-brand a card with a bank. The card would have two brand names on it -- the bank's name and the store's name. Usually, the attraction of the card is special deals with the retail partner. Many -- particularly the ones affiliated with airlines that offer air miles -- are popular enough to command a hefty annual fee.
  • credit card (CC)   A plastic card with a coded magnetic stripe that, when signed, entitles its bearer to a revolving line of credit, with a credit limit and interest rate determined by the borrower's income and credit report.
      ➥  A payment card that gives customers access to a revolving line of credit.

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