(noun). An imaginary "membership" card to the punk subculture. Punk cards are often referred to by others than the "holder" of said "card,' for presentation and review. Also used to reflect "punk points" - merits and demerits reflecting the actions of the holder, based on others' scrutiny.
Person 1: "I really think capitalism is super cool"
Person 2: "Alright, let's see your punk card - yep that's minus 2 points"