they will delete your blog if they find out. i've had total 3 blogs deleted, and don't have intention to use blogger for affiliate program. you'll get email from them state that your blog is SPAM, even if your blog only got 10 visitors/day
Read their Terms of Service and Content Guidelines if you are worried of violating any rules. Unfortunately Google just seems broken when it comes to their crazy rule enforcement. Technically, if you write quality unique content and don't load a ton of affiliate URLs, you should be fine, but with Google, it can be luck of the draw. You can also try wordpress, tumblr, etc if you have problems with Blogger.
If your going to build a long lasting affiliate marketing business you should look at getting your own hosting and website. You have more control this way.
Everybody should avoid blogger when they think to make money from their site.Because without any reason they will delete your blog by their so called anti spam bots.When you want to make money with affiliate marketing then you should use your own domain and hosting.
So let me get this straight. Blogger doesn't allow affiliate marketing, but you may get away with it.