Benefits of Adding a Cardholder to Your Credit Card

As somebody with a credit card, you’re in position to make a variety of key decisions. At some point, you may ask yourself this question: does it make sense to add a cardholder?

For example, you may want to add a spouse or child as a cardholder. While this is a big decision, it’s not one that should bog you down for too long. Instead, once you consider the benefits, you may find yourself moving forward soon enough. Here are three to consider:

1. Gives somebody with credit challenges access to a credit card. Does your spouse have less than perfect credit? Has he or she found it difficult to secure a credit card in the past?

By adding this person as a cardholder, they now have access to all the benefits of your credit card. Furthermore, you give him or her the opportunity to rebuild their credit.

2. Ability to earn more points. Since you now have two people using what is essentially the same credit card, it’s much easier to collect points in a time efficient manner. Subsequently, you can reach your “point goals” in a shorter period of time.
3. Financial convenience. Sticking with the example above, there may be times when your spouse needs to make a purchase but you aren’t around. For this reason, they’re unable to use your credit card. If this type of inconvenience has bothered you in the past, adding a cardholder is the best way to forget about it once and for all.

As you can see, there are benefits of adding a cardholder to your credit card. As long as you are 100 percent comfortable with the idea, it may be time to move forward.

Can you think of any other benefits? Do you have any experience with this? Share your thoughts in the comment section below.