Having a regular salary and a good credit history would be a good start. For this to work, your credit score must be within the range.
Individuals such as students or even first-time job holders may struggle to qualify for a Credit Card application in such a circumstance. However, there are some methods to take use of a Credit Card, particularly if a family member already has a Credit Card.
This is where the add-on Credit Card comes into play. Add-on Credit Cards are extra Credit Cards issued in conjunction with a primary Credit Card. They are a type of extra or secondary credit card. If you have a main card, you can apply for additional cards for your children, spouse, or even your parents. The perks and characteristics of the add-on card are identical to those of the principal credit card, and the number of add-on cards that may be held varies by bank. It is usually between three and five.
The cost of an add-on card varies according on the kind of card, but it is often between Rs 125 and Rs 1000. The primary Credit Card holder is responsible for any costs incurred on the secondary Credit Card.
The Benefits of Add-On Credit Cards
Add-on credit cards, for the most part, share all of the characteristics of the primary credit card. The auxiliary card provides the same benefits as the major card. However, there are a few things you should be aware of while using an add-on credit card.
- Credit limit: The credit limit on add-on credit cards is the same as the credit limit on the principal credit card. You can use the add-on credit card up to the card account’s entire credit limit. Some credit card companies also enable primary cardholders to establish a limit on each additional credit card. It might be the same as or less than the account’s overall credit limit.
- Reward points for credit cards with add-ons: Rewards points are earned at the same rate for add-on credit cardholders as they are for primary cardholders. This implies that the number of reward points, the minimum transaction value, and the redemption choices, among other things, will stay unchanged. The accumulated reward points are credited to the account of the primary cardholder. You can utilize the consolidated points when redeeming your rewards.
- Offers on add-on credit cards: Most card issuers treat add-on credit cards as though they were another card when making offers. If this is the case with your card, the primary cardholder and the add-on cardholder can both take advantage of the promotion. Discounts, rebates, free gifts, and coupons are all common credit card incentives. Please write us to know more interesting features about add on credit cards.