Supplementary Credit Cards. Any Differences?

Bill48 on 10/07/2015 - 12:36

I'm weighing up the options for giving my 21 year old son a card for use overseas (mainly Canada). I know, I know, not ideal, just like not going guarantor. He will be going to a prearranged job in the ski fields there. He has been working and has good savings. But he has chosen to give up that work and now banks won't give him a CC. Obviously he should have applied for his own card while working but that's water under the bridge. He has an application in for a Citibank debit card. He has a Commbank debit card.

For any of you with experience of this I have a couple of questions.

  • Are any cards or banks better or worse with supplementary cards?

  • Can I set a different limit on that card from mine?

(I have Westpac Qantas EarthPlatinum MasterCard/Amex and ANZ FF Gold Visa/Amex plus a direct Amex.)

I don't suppose there is any way with any of the above for him to get his own Qantas FF account also. I want to gift him points.

Financial

Comments

  • jaybmate on 10/07/2015 - 12:53
    +2

    If he has savings, why not just use that?

  • quop on 10/07/2015 - 12:57
    +5

    If he has a debit card, why not just use that?

  • Maki on 10/07/2015 - 13:37

    Or give him a travel visa card, put whatever amount u want in it.

  • jaybmate on 10/07/2015 - 13:41
    +1

    Just transfer 100k from your mortgage to his commbank account, and he can use the debit card to withdrawal cash, as well as make purchases.

    Isn't he doing a Paid job while over there, so he'll have money anyway?

  • Bill48 on 10/07/2015 - 13:55

    Thanks all. But, any experience with my specific questions please?

    • hashtagbargain on 10/07/2015 - 14:19

      1. I suggest you get a 28 deg card with a supplementary card for him. Other options are BankWest plat CC or a citi debit card to avoid the 3% international fee. If you dont care of the 3% fee then any card would be fine really.

      2. Different limit - usually your limit is shared among all your supplementary card. But I think CBA credit cards have a facility where you can set the credit limit of sup cards. If you are overly concerned about this, your best bet would be to get a travel card and preload what you'd like him to access.

      3. There are several ways to get free QFF membership for your son. Once he has that, you can transfer your points to him.

  • meowmeowmeow on 10/07/2015 - 14:16

    Why don't you ask the bank how it works?

  • meowmeowmeow on 10/07/2015 - 14:18

    Also have him sign up the woolworths every day rewards and he'll get a free qantas FF account

  • Paul Atreides on 10/07/2015 - 14:18
    +1

    Are any cards or banks better or worse with supplementary cards?
    Depending on the card, the supplementary card might not have the same benefits (i.e. travel insurance might be offered on the primary card, but not on the supplementary.

    Can I set a different limit on that card from mine?
    No. Supplementary cards link back to the account of the primary account.

  • try2bhelpful on 11/07/2015 - 17:22

    We have a second credit card we use for internet transactions that has a smaller limit. Maybe you could get one of those and make him a supplemental on that. There are a number of options now days so you can look for either low/no fee or (relatively) low interest rates dependent on how good he is at paying back. You also need to think about transaction fees if he is overseas. That way you can set him a lower limit and keep him more quarantine from your stuff. Hope that helps you.

  • Bill48 on 13/07/2015 - 11:29

    Some good thoughts that I will follow up. Thank you. Bill

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