24 Hour Loans glossary of financial terms

Additional cardholder

An additional cardholder is a person that is given a card (usually a credit card) to use on an account that you hold in your name. So, for example, you may have a credit card account and apply for another card for a member of your family or a friend to use. Any spending that they make on this additional card will be bundled up with your own spending. So, they won?t get a separate credit card statement that only lists what they spend with their card ? it will all appear together with your own spending on your monthly statement.

You can generally apply to have an additional cardholder on your account when you open it or you can choose to add one at a later date. In most cases you will also be deemed responsible for any spending that your additional cardholder may make.