Meaning of affinity card | Babel Free

Definitions

A credit card made available by a bank or other lender to qualified people associated with a sponsoring organization (such as a club, educational institution, charity, or business), typically with provision for a portion of the lender's interest income to be paid to the sponsor and sometimes providing special benefits (such as reduced fees) for the users.

Equivalents

Examples

“Typically, an affinity card holder should produce between $8 and $12 per year to the affinity group," said George Hanold, president of Alliance Marketing, a company that sets up agreements between banks and groups.”

“[I]ssuers of credit cards . . . began years ago with such offerings as travel discounts and so-called affinity cards, which feature the logos of sports teams or donate a portion of every charge to charity.”

“In August of 2007, Yale University signed a seven-year deal with Chase Bank, worth a guaranteed $7.98 million, to sell access to alumni, staff, sports fans and potentially students for the bank's credit cards. . . . Yale's contract provides the university with many controls over to whom and when the affinity card can be marketed.”

CEFR level