Benefits of the Additional Card and the Influence on Credit (1)

In order to allow more people to hold / use their own credit cards, most banks allow customers to add their own credit cards for others. Although the additional cardholder has their own card, the cash back earned from the consumption of the additional card belongs to the primary cardholder and the responsibility for reimbursement also lies with the primary cardholder. In order to attract more consumers, some of the benefits that were previously only available to the primary cardholder have recently been extended to the additional card.

In addition to the benefits, having an additional card also affects the credit history of the additional card holder. Having an additional card helps to establish a credit history and credit may be damaged due to the additional card.

Let me learn about the advantages of the additional card of a credit card today, and how to use the additional card to build a credit report!

Benefits of the additional card

Cashback

Most sub-cards receive the same cash back on consumption as the main card. For example, if a credit card offers 2% cash back on any consumption, its additional card may also generate the same cash back, and it will not be given back because it is an additional card.

One thing to note is that some credit cards have a certain limit for the cash back, like the Bank of America Cash Rewards credit card, where the 3% cash back is limited to the first $ 2,500 spent each quarter. At that time, unless otherwise specified, the primary card and all additional cards will share this limit.

The cashback / discounts / points / miles generated by the consumption of the additional card all belong to the primary card. Therefore, friends who are still using another person's additional card are recommended to have their own credit card as soon as possible and get their own money back.

Other benefits

Unlike consumer cash back, other credit card benefits vary from card to card, and the additional card may not have the same benefits as the primary card. If you are planning to add an additional card for another person or obtain another additional card for a specific service, it is recommended that you contact the bank before issuing an additional card to confirm the benefits of the additional card.

Take the example of the American Express Platinum card, the advantages that the deputy cardholder can also benefit from are:

• Amex Global Lounge Collection: The additional card holder has the same global airport lounge rights as the primary card holder, and the additional card holder can also bring 2 companions to most VIP rooms together. When traveling with the deputy cardholder, up to 6 people can use the airport lounge for free at a time.

• Hilton Honors Gold and Marriott Bonvoy Gold status: Associate cardholders can also obtain Hilton and Marriott hotel memberships and enjoy perks such as free room upgrade / double breakfast / early check-in / late check-out.

• Boingo WiFi: Free high speed WiFi at airports around the world. This WiFi is different from the free self-operated WiFi at the airport. It is faster in comparison and supports multiple devices online at the same time.

• Fine Hotels & Resorts: A collection of mid-to-high-end hotels, booked through FHR, may qualify for price reductions / room upgrades / double breakfast / late check-out / early check-in / refund of hotel consumption. hotel, etc. It can save money.

• Various shopping / travel insurance

The American Express Platinum Card additional card basically inherits the benefits of the primary card and the cost of adding additional cards is very low: the first 3 additional cards cost only $ 175 per year, then $ 175 per card . By completing the first 3 extra cards, the average cost per card is $ 59 and you can enjoy so many benefits, I personally think it is very profitable.

In contrast, some co-branded hotel credit cards that directly provide hotel membership do not provide hotel membership to the additional cardholder, such as the following co-branded hotel cards:

• Hilton Aspire / Ascend: Hilton hotel Diamond / Gold card memberships are provided respectively, and additional card cannot be obtained.

• Marriott Bonvoy Brilliant / Bouldless: provide Marriott Hotel Gold / Silver subscription respectively, additional card cannot become a member

• World of Hyatt: Provides Discoverist membership from Hyatt hotels, but additional card cannot obtain membership

• IHG: InterContinental Hotel Platinum membership is provided and the additional card cannot be obtained.