New Delhi, Sept. 3 -- Add-on credit cards are becoming a popular financial tool for aspirational families seeking to share credit benefits. The add-on credit cards basically extend the primary cardholder's credit line to family members. This permits them to access credit and associated perks without the hassle of applying for a separate credit card.

Still, along with the comfort and convenience of these add-on cards, they also carry risks and responsibilities that all card users should acknowledge and understand before opting for such credit instruments.

Add-on credit cards are nothing but supplementary credit cards that are linked to a primary cardholder's credit account. They are designed for near family members such as children, spou...