Credit Cards – Bankinginfo

Can anyone get a supplementarycard?Who is responsible for thepayment of the purchases madeon the supplementary card?What is a credit limit?It is up to the principal cardholder to nominate his/her supplementary cardholdersdepending on the T&C of the credit card issuer.The principal cardholder is primarily held responsible to pay for the purchases madeby the supplementary cardholder and also his/her own purchases made on the creditcards. However, you should check the T&C on whether the supplementary cardholderwould also be held liable for the credit card debt.The credit limit is the maximum credit extended to you by the credit card issuer.The limit set is based on the assessment of the information provided in yourapplication form. The credit limit may be changed over time depending on yourspending pattern and payment capability. You should have a credit limit thatmatches your repayment capacity to avoid spending unnecessarily and to minimiseyour liability in the case of fraud.How can I make cash advancesusing my credit card?You can make cash advances over the counter of the participating credit card issuersor via ATMs, which display the logo of your credit card brand. Other restrictions maybe applicable.Why does a merchant need toget authorisation beforeaccepting my credit card?A merchant will require authorisation from your credit card issuer in ensuring that theamount of purchase does not exceed your credit limit. Your transaction will be rejecteddue to reasons such as exceeding your approved limit. You may wish to contact yourcredit card issuer if you encounter such a situation.13