Credit Cards, Add On Cards, Benefits for families

pic by _Dinkel_
pic by _Dinkel_

What Are Add On Cards?

Add on cards are cards that are added on by the bank to a primary credit card.

The primary credit card holder is the one that the bank issues the credit card too (based on credit history, rating, income, business group, profession etc) and by virtue of being connected to the approved borrower (primary credit card holder) others can also avail of such facilities.

E.g. A stay-at-home wife, may not get a credit card because she does not have any income or job.  But using her husband's credit card for shopping is tantamount to fraud (You cannot use another's credit card, irrespective of relation).

Hence the bank issues an addon card to the wife based on the credit card of the husband.  This add-on card gives her all the benefits of a regular credit card.

Why Choose Add On Cards

Add on cards are generally provided free of cost and with no additional paper work.

Most banks will offer you add-on cards free when you apply for a credit card and hence you can get more of your family access to the facilities.

The other benefits include getting additional points / loyalty benefits / miles/ goodies etc on all the combined spends

How To Make The Most of Add On Cards

Create spending limits

This is really important if you are going to give an add on card to a teenager or your children who still do not have the understanding or the maturity to handle a credit card.
Outstanding amount on the credit card is a liability and should be used accordingly.

Designate Cards for Particular Expenses

You can choose different credit cards for different types of purchases and hence create a simple way to track your expenses under that head.

Set up SMS / Email Alerts

Set up all spend alerts to one central number so that you are aware of the spending.  Remember the add on cards do not get a new credit limit, they share your credit limit.  hence if someone spends 10000 on their add on card, your collective limit comes down by 10000.

Be aware.

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Comments 3 comments

Hypnotherapy-Guru profile image

Hypnotherapy-Guru 5 years ago from Idaho

Great information. Thanks.

surfsurd profile image

surfsurd 5 years ago from India Author

@hynotherapy-Guru thank you!

martinnetsims 4 years ago

well tony if you are still in need of them i think this is the link

filling address , they have a wealth of knowledge ,just say mart told you to ring

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