A partner card is a very practical additional service: The spouse or partner receives an own credit card, which benefits from the advantages of the main card. Some providers even issue the second card for free, which makes it particularly attractive. The story is on http://www.booknetusa.com/bad-credit-consolidation-loan/
What is a partner card?
The spouses often share a common account. But they have two credit cards from different providers. It is an unnecessary source of expenditure. Annual fees are due for each card! The partner card is a credit card that can be used by a family member. It does not necessarily have to be the spouse. This option is also available to children or friends.
The provider does not take any risks with the second card. All transactions are settled through the primary cardholder’s account. The decisive factor is the spending limit on the main credit card.
You may have to think about increasing the limit. Two people spend more than one. The allocation of payments is possible without any problems since the sales are listed separately. This is done via the monthly account statement.
Note: The partner card has nothing to do with the double card. In a double, a person receives two credit cards – for example a Mastercard and a Visa.
If you order a new credit card, you can enter the partner cards directly. All credit cards are sent to the holder. For existing contracts, you should contact customer service.
Overview of advantages and disadvantages
The partner card is considered a full credit card. The customer can use them for all upcoming payments. Only the respective limits have to be observed. They can be set individually for each additional card by the account holder.
Some credit card providers lure with cheap costs. If you are lucky, you will receive a free partner card. In general, expenditure is lower. In this way you can reduce the annual fees without saving on services. The partner often benefits from rental car or travel insurance. Sometimes the additional benefits are limited. Check which insurance policies apply to the second card.
In the event of a divorce, you can have the partner card blocked immediately. There is no waiting time as payments are made through the main cardholder. Until then, all sales will be debited from the account.
Tip: Some banks issue the secondary card for minors. You should set a limit here to avoid unpleasant surprises. Children have yet to learn how to use money properly.
The group of beneficiaries can be limited. Sometimes the marriage certificate is necessary for a partner card. Other banks are more accommodating and even give friends a second card. Here it depends on the provider. The number of partner cards can also be limited.
What are the costs?
The partner card costs a reduced annual amount. It is usually around 10% to 50% of the main card fees. The second card is often also available as a free service. The bank would like to win new customers or keep existing customers.
Indirect costs can arise: The main cardholder is liable for a lack of creditworthiness. So people with negative Schufa can get a real credit card. Normally there is no check because the liability lies with the owner. The focus is on the creditworthiness of the account owner.
Basically, partner cards are very lucrative. Depending on the provider, the second card holder benefits from the insurance. For this he pays little or no annual fees.
Example: Bankile Gold Visa
As part of its “Gold Visa” offer, Bankile offers partner cards on the following terms:
- 29 USD for the partner card
- separate account sales
- all advantages apply to the second card
- no fees in the 1st year (main card)
- Travel insurance
- optional Maestro card
- Internet delivery protection (1,000 USD per item, up to 2,000 USD per year)
There is only one requirement. The partner card applicant must be 16 years of age or older. A second card is included in this offer. If you need more cards, you should take a look at the Bankile Platinum Double.