How To Add An Additional Card Holder

Adding an additional cardholder, whether a spouse or a child, can be beneficial for various reasons. If you have a special person in your life, it might be time to add them as a cardholder. If you’re unsure how to add a new cardholder to your credit card account, here are some pointers to get you started.

How to Add an Extra Cardholder

Adding an additional cardholder is usually very simple and involves calling your card issuer to arrange it. You only need to provide the person’s info to add them to your account.

Who should I include?

In theory, you can add anyone to your account as an additional cardholder. However, partners, spouses, and children are the most common people to add to your account. If you are starting to share your accounts and pool your assets, you may want to add a partner or spouse.

You might also want to add a child to your account to keep track of their spending while giving them some financial independence.

The Benefits of Adding Cardholders

Adding a cardholder reduces the number of accounts you and the additional cardholder have, making payments more manageable. It lets you track your and others’ spending, helping you save more.

Using the same accounts can help your family budget. You can also use the same pool of money but have separate cards, allowing you to spend on your own while someone else does the same.

Disadvantages

Although there are some benefits, there may also be some drawbacks. If you add someone as an additional cardholder, you are responsible for their monthly balance. This could cause issues if your child spends recklessly or if you have relationship issues. Because the balance is part of your statement, you will be held accountable.

Canceling a second cardholder

If you’re separated, divorced, or your children have moved away, cancel any extra cards. Many people end up with large bills after divorce because they forgot to cancel an extra credit card, and their partner charged everything to their account. You and your partner can reduce the number of cards you need by canceling additional cards.

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