Life lesson - In case you're not aware
I'll relate my recent experience for those of you that are unaware of some "new" policy with credit cards. We made a recent trip from our home in the Dallas area to Carlsbad N.M. These transaction...
Forum Discussion
2oldman wrote:Effy wrote:It's a gas credit card. I didn't know they even existed anymore.
Why? Your bank takes measures to protect you and for that you cancel them?
Yeah they exist. Technically they are affinity cards. The gas company has very little to do with it. It's actually serviced by a larger bank (sometimes you can see who the servicer is on the back of the card). ABC gas company pays a premium to the bank for a credit card but the gas company is not the issuer or the servicer. There are thousands of types of affinity cards. One bank may have thousands of portfolios everything from Lowes to Home depot to BP to Amazon. But they are all serviced by one bank. The only difference between a bank card and an affinity card aside from a logo are terms and perks. It's still owned and serviced by a bank.
