Joint Account Card Holder and Authorized Cardholder are the two types of cardholders who have to pay credit card bills either they have used their card or not.
A credit card is a plastic money. It can be used anytime, anywhere. Credit card keeps away many hindrances that can arise in the spur of the moment such as while purchasing and having no cash in hand.
Even though a credit card is a valuable tool, it requires a lot of responsibilities which shouldn’t be taken for granted. Responsibilities towards credit card are specified in your agreement form submitted to the bank and those specific responsibilities are:
- The monthly statement should be monitored for accuracy.
- Make sure whatever you are charging through a credit card should be repaid before the due date.
- Inaccurate charges should be reported immediately.
- When you accepted the card you agreed to repay all the creditors, so fulfill the agreement.
An authorized user doesn’t have to sign an agreement to repay their creditors as it is not their legal liability to fulfill. You can not authorize yourself for the card but only the cardholder makes you an authorized user where he/she allows you to charge the card without any hindrances.
Being a cardholder you can authorize anyone as authorized user anytime, merely by giving a call or sending a letter to your card granter. Usually, parents make their children their authorized user or a husband makes his wife an authorized user in his card and etc.
An authorized user doesn’t have their own credit history established, so they are somehow dependent on the authoritative.
Joint Accounts (pay credit card bills?)
A bank account shared by two or more individuals is Joint Account where each person is responsible for every legal liability. Joint accounts are usually used by married couples and business partners etc. This helps establish a credit history for each individual and that helps further to acquire their individual credit card.
Joint account credit card is operated in the same similar the account is operated, each individual will be questioned if either one of them has not fulfilled specified responsibility on the agreement form.