If you have a credit card, you can get add-on cards issued against it for your spouse or kids. But are add-on cards worth it? We reveal their pros and cons.
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Benefits
Add-on cards give credit access to your family members who might otherwise be ineligible to own one. This helps them establish their credit history.
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Cardholders can enjoy the benefits of the primary card
Add-on cardholders can build their credit profile with timely repayments
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Drawbacks
It is the primary cardholder's responsibility to pay off add-on card users' dues if they fail to do so.
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Overspending or defaulting on add-on cards damage the primary cardholder's credit score.
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In order to avoid the drawbacks, the primary cardholder must set spending limits, monitor transactions, and ensure timely bill payments.
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Take advantage of add-on cards offered by IDFC FIRST Bank Credit Cards that offer a rewards program and a host of perks.