RBI Issues Circular On Levying Unfair Interest Charges On Customers

Add-on Credit Card is also called a supplementary card or secondary card. It is actually an extension of your primary credit card that is, you can take another one along with your credit card. And the same card is called Add-on Credit Card. Cardholders can share their credit line with family members through this one. The extra card has the same credit limit as the main one. In a way, it is like a joint account of a bank. Its biggest advantage is that Add-On Credit Card makes your financial management easier.  Since the credit limit is shared, it helps in managing credit card expenses without the need for multiple credit card accounts. Apart from this, it also helps in setting individual spending limits. This facility is especially beneficial for those parents who give money to their child for expenses but want to control that expenditure.

You can customize the spending limit on every Add-On Credit Card, that is, you can set it as per your choice. This will ensure that no person in the family spends more than necessary. You can track every transaction. In the credit card statement you will know who is spending where and on what item.

It also helps in building credit score for secondary users:

Correct usage of the card and timely payment can have a positive impact on the credit score of both primary and secondary card holders. This is especially beneficial for those users who are using credit cards for the first time or want to improve their credit history. This can act as a lifeline in case of any kind of emergency. If family members live separately or are traveling somewhere. And if a sudden emergency arises, the card gives you a financial coverage.

Now let us know how to apply for this card? The process is easy!

Visit the bank’s site and apply for it in the credit card section. Fill in the primary and secondary card holder information in the application form. Necessary documents may be asked for the secondary card holder. Submit that and once the processing and approval is done, the card will be sent to your address. So in this way you can take Add-On Credit Card as per the need of your family.