Title: The Mystery of the Primary and Secondary Cards: An In-depth Analysis of the Differences and Connections between the Two.
In modern society, bank cards have become an indispensable part of our daily life, especially in family financial management, children's consumption control, etc., the concept of principal card and supplementary card is more frequent. In this article, we'll take a closer look at the "secrets" between the primary and secondary cards,* their main differences, and the unique advantages in practice.
1. Definition of the concept.
The principal card, as the name suggests, is a card that occupies a dominant position in the bank card account, which is mainly applied for and owned by the account holder (i.e., the principal cardholder), and enjoys complete account management rights, including all functions such as deposits, withdrawals, transfers and various consumer payments, and is required to bear the corresponding repayment responsibilities.
An additional card is a supplementary card issued by the principal cardholder for his/her relatives or other authorized persons. The supplementary card shares the same account funds with its corresponding principal card, but its authority is relatively limited, and it can usually only be used for consumption and cash withdrawal, and does not have functions such as account management or transfer.
2. Rights and Responsibilities.
The principal cardholder is fully responsible for the movement of funds in the entire account, whether it is the principal cardholder's own transactions or the purchases made by the supplementary cardholder. At the same time, the principal cardholder can set the spending limit of the supplementary card to effectively monitor and manage the usage of the supplementary card.
The supplementary cardholder has the right to spend freely within the scope of the authority set by the principal card, but does not have the right to check the account balance, handle deposits, withdrawals or transfers, and does not bear independent repayment responsibilities. However, overspending or violating the rules set by the primary cardholder may affect the primary cardholder's credit history.
3. Application scenarios.
The combination of the main card and the supplementary card is often used for family financial management, such as parents opening supplementary cards for their children to facilitate their living expenses during schooling, or couples opening supplementary cards for each other to facilitate living and spending together. Enterprises also often use the form of primary and secondary cards to standardize employees' travel reimbursement or daily expenses.
The core difference between the primary card and the secondary card is the difference in the allocation of permissions and responsibilities. As the core manager of the account, the principal card controls the overall situation, while the supplementary card is attached to the principal card and enjoys limited use rights. Understanding and mastering the characteristics of the principal and supplementary cards enables us to make more effective use of card tools for financial planning and risk management, so that financial products can better serve our lives.