Quote:
Originally Posted by tamago
Someone I know recently called the bank to discuss payment options for a Credit Card debt.
Some background information: There is a primary card holder and a supplementary card holder.
The primary card holder has been racking up all the debt and the supplementary holder has not used the card in years.
When they called the bank, the bank said that if the debt was not paid in full, both the primary AND the supplementary card holders' credit would be impacted negatively. Could this be true, or is it just a technique they use to make you pay?
I can't figure out how the make the supplementary holder responsible as well since the card was issued based on the primary holder's information.
Can someone shed some light?
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Depends on how the card was applied. If a credit is being applied by primary and secondary holder jointly, both credit will get impacted. It does NOT matter who spends the money and thats why you should be careful who you apply the credits with.
Normally, unless you are married couple, or some sort of immediate family, I wouldnt recommend you apply credit jointly.
So, your friend is on the hook if he/she doesnt even use the card and the other guy is racking up all the debt... No other way around it that I can think of, other than your friends sorting them out privately. Even if your friends wants to get out now, he/she still on hook for whatever outstanding balance there is.