Supplementary Credit Cards For The Extra You

18 Jul 2022  Read 405 Views

Having a credit card can work in your favour if used prudently, as there are numerous benefits that cannot be missed. Several credit card companies do not fall short of attracting users with their enticing offers. While the features provided by banks are endless, you must understand the features that work best for you and get a credit card accordingly. 

When customers get a credit card, they also get the power to issue a supplementary credit card. Things get a lot more convenient for customers’ families using this feature. Let’s understand more about supplementary credit cards and how they help:

Understanding Supplementary Credit Card

Supplementary credit cards are always issued with a few terms and conditions from the bank. The primary purpose of such credit cards is to allow access to the additional version of the original card. Such an add-on card is meant for usage by family members. Though the primary cardholder has the original access, they can add an authorized user to the same account. The credit card number and other details contained in a supplementary card differ from the original one. 

The primary cardholder has complete authority over the supplementary credit cards. They have full right to monitor all spending from the card and thereby restrict any probable abuse. The primary cardholder is liable for all the monthly charges, and the bill is addressed to them. A credit card is perhaps the most satisfying feeling unless you lead yourself to a pile of financial debt. Clawing one’s way out of severe credit card debt can be an overwhelming experience. There is no way the primary cardholder can escape the credit liabilities towards such issued supplementary credit card. Hence, it is crucial to issue it to those you can trust and are responsible enough.

How do Supplementary Credit Cards Help? 

Given all the features that cards like Standard Chartered Smart Credit Card provide, spending through it can be considered smart spending. Talking about the credit card features and benefitsthey are all meant to make a cardholder’s life easy. Giving a supplementary credit card to your family can be a great way of managing your family expenses better. The primary cardholder can put limits on supplementary cards to ensure that spends are under check. When your family spends through credit cards, you earn more cash-backs and rewards. The extended interest rate feature helps you manage your monthly finances better.

If we talk about Standard Chartered Bank, their smart card offers a 3D secure OTP verification mechanism. This ensures that none of the supplementary credit cards is misused by any fraudster. Additionally, the smart card facilitates easy digital payment options through various payment partners operating in the online banking industry. This ensures that minimum intervention of the primary cardholder is required while supplementary cardholders use their cards on a day-to-day basis. The entire process of using a credit card in modern-day transactions is made simpler, secure and transparent by supplementary cards. 

The Bottom Line

A supplementary or add-on card is one of those advanced features that add to the versatility of using a credit card. Thinking about the family expense and creating a bank account for each member is another tough job. Especially when it comes to a credit card, where the criteria for application are specific, and not everyone can apply for one. Thus, the supplementary credit card comes to the rescue in such circumstances. 

Each banking institution has its processes, chargeable fees, maintenance expenses, etc., which might be a hidden cost. To avoid such inconvenience, a thorough verification from the concerned banking partner can help. Lastly, don’t forget to understand the terms and conditions attached to your card. It can save you from any unwanted liabilities coming your way. With these preparatory measures, the luxury of owning a credit card is all yours.

About the Author: Ayushi Upadhyay | 238 Post(s)

A Keen Learner. Tiny, brainy, and studious, this quiet one stays in her zone until she pops. And once she does, boy, are her comebacks snappy! There is no financial question that she can't answer through her magical blog-writing. 

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