Abstract: A financial system in which an intermediary facilitates transactions between one or more credit card issuers and a plurality of different vendors which may be related by a common characteristic. The financial system of the present invention preferably includes a consumer credit card and a membership card, both including some type of rewards program. A customer applies for the credit card and membership card at a point-of-sale associated with a vendor that sponsors the credit card. The vendor uses a computer with a hardware or software identification system to securely transmit the application to the intermediary via a broad bandwidth communication medium, such as the Internet. The credit card issuer may use an instant on-line approval mechanism to instantly send a credit card number and initial spending limit to the customer via the vendor's computer.