You enjoy the convenience of your credit card and love the rewards that they help you earn. How about providing the same to your loved ones? Add – on cards are the easiest way to get them to enjoy the same credit privileges as you do without the hassle of applying for a new credit card. The best part is that getting an add – on card does not require additional income proofs or CIBIL scoring. Just a simple KYC will suffice and there is almost nil rejection rate for an add – on card.
Let me explain. An add – on card is essentially another instrument which uses the same credit line that is assigned to the primary card holder. The responsibility of making payment of the outstanding on the add – on card also lies with the primary card holder. Hence, there is no additional risk which the bank has to bear when issuing add on card.
The flip side of getting an add – on cards issued on your primary credit card is that your credit limit is now shared with all the cards which are linked, and any spends on one of those card also reduces your spending limit by that amount. However, that’s a small inconvenience compared to the advantages offered by add – on cards. Most credit card issuers allow you to have multiple add – on card at no additional cost. So go ahead and get your family members to enjoy the same exclusive benefits that you do.