Add-on credit cards

The add-on credit cards can be availed by students who do not want an account but the card of the bank alone. Add-on cards are obtained on account of existing credit cards held by parents or any other family members. The add-on card will carry the student’s name and the bank’s name, and it can be used like any other credit card.

Limitations

As students are young are prone to spend more money in their college days for various activities. This freedom can be dangerous, as over or misuse of credit cards in particular may lead a student to unnecessary debts. To keep bay situations like these, banks have a pre-spending limit for their credit cards.

Limiting the expenditure, students in a responsible manner plan their budget keep a check on spending. Important transactions should be given the main priority if done through cards. This process can be very useful to parents; as they struggle over to teach their children some money manners and its importance in financial life.

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