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Additional Card Holders
Wyndham
Posts: 2,625 Forumite
in Credit cards
I'd appreciate some advice on how additional card holders work.
OH had card with me as additional card holder. This is now closed. If we want to re-apply, how long do we need to leave it? And could I apply with him as an additional cardholder and do that sooner?
Advice appreciated - I'm new to this!
OH had card with me as additional card holder. This is now closed. If we want to re-apply, how long do we need to leave it? And could I apply with him as an additional cardholder and do that sooner?
Advice appreciated - I'm new to this!
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Comments
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Wyndham wrote:I'd appreciate some advice on how additional card holders work.
OH had card with me as additional card holder. This is now closed. If we want to re-apply, how long do we need to leave it? And could I apply with him as an additional cardholder and do that sooner?
Advice appreciated - I'm new to this!
It depends upon the company. Some, eg natwest, will tell you that you have to wait 6 months to reapply, others, eg Capital One say that there is no waiting time, you can reapply straight away.:)Henry James Born 18/03/2011-11 days late!:)
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You could apply straight away for your own card with your partner as an additional user.
Additional cardholders are not party to the credit agreement in any way. The principle account holder is fully responsible for the conduct of the account and is solely liable for the debt. In fact, most lenders only ask for the name of the additional user so that it can be embossed on the card.The whole problem with the world is that fools and fanatics are always so certain of themselves, but wiser people so full of doubts.0 -
Thanks for this. One more question though. Does this mean that I could appy for a credit card with oh as additional card holder, and he could apply for the same credit card with me as additional card holder, and they would let us do this? We could then both use both accounts and both credit limits as we wished?
I'm looking at 0% cards for purchases (slow stooze) so want the period to be as long as possible and the number of cards to be as big as possible so the overall credit limit is as high as we can get it to be.0 -
Having an additional card holder would not give you double the credit limit or 2 balance transfer introductory offers, which I think is what your suggesting.
An additional card is a second card in someone elses name that would be billed to your account.
Hope This HelpsWhilst my posts do not constitute financial advice, I am always, without fail, 100% right!
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The benefit of an additional cardholder when slow-stoozing is that the credit limit is reached sooner, thereby increasing the size of the stooz pot and thus the profit to be made.mrmajika wrote:Having an additional card holder would not give you double the credit limit or 2 balance transfer introductory offers, which I think is what your suggesting.
A secondary benefit is that there is less 'management' required.0 -
mrmajika wrote:Having an additional card holder would not give you double the credit limit or 2 balance transfer introductory offers, which I think is what your suggesting.
An additional card is a second card in someone elses name that would be billed to your account.
Hope This Helps
Actually, that wasn't what I meant - sorry if I wasn't clear.
I'm talking about the number of cards I can get when there are two of us to share them and the total credit limit we can get. I'm talking about me applying for a card (say Sainsburys) with OH as additional, and him also independently applying for a card (also with Sainsburys) with me as an additional cardholder. So we'd have FOUR cards in total but two accounts, two credit limits etc.
My question is really, given that the credit report will show several financial relationships between us already, would they realise what we were doing, and refuse whoever applied second on the basis that they were already party to an account with them?
Thanks for all the replies, it's helpful.0 -
I don't know if this will help but here goes....
I had a Halifax One card with my OH as an additional cardholder. Some months later, my OH applied for and received a Guide Dogs card (issued by Halifax) so in this instance the fact that she had had a card with them, albeit as an additional cardholder, didn't stop her getting one of her own.This space has been intentionally left blank0 -
Wyndham wrote:Actually, that wasn't what I meant - sorry if I wasn't clear.
I'm talking about the number of cards I can get when there are two of us to share them and the total credit limit we can get. I'm talking about me applying for a card (say Sainsburys) with OH as additional, and him also independently applying for a card (also with Sainsburys) with me as an additional cardholder. So we'd have FOUR cards in total but two accounts, two credit limits etc.
My question is really, given that the credit report will show several financial relationships between us already, would they realise what we were doing, and refuse whoever applied second on the basis that they were already party to an account with them?
Thanks for all the replies, it's helpful.
The fact that you would be additional users of each others card accounts isn't likely to make any difference to the outcome of the applications or the initial credit limits. The identity of the additional user is not usually verified as it has no impact on the lending strategy. In fact, people frequently try to get additional cards with made up names!
The only connection between you is the financial association on the credit bureau. As long they think you can handle the borrowing, there is not reason why you shouldn't both hold an account.The whole problem with the world is that fools and fanatics are always so certain of themselves, but wiser people so full of doubts.0
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