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Sub card holder with principal cardholder defaulting - how?

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Old 08-08-2019, 09:52 PM   #1
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Sub card holder with principal cardholder defaulting - how?

Hi everyone, will try to keep this short.

Many years ago I signed as a sub card holder with my father as principal card holder. He has since disappeared (uncontactable, long story and don't want to share the reason) and annual card fee, late charges and interest fees are accumulating. I've cut up my sub card long ago but didn't inform the bank (first sub card is free anyway).

Questions:
-Will my own credit score be affected as a sub card holder of a principal cardholder who has defaulted?
-More importantly, will the bank come after the rest of my family?

Last edited by cassowary18; 08-08-2019 at 09:55 PM..
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Old 08-08-2019, 11:33 PM   #2
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Hmm, interesting case, but my guess is no. They have no legal ground to chase any of your family member. Sub card is technically under the responsibility of the principal card holder. (Ie: it is still sharing credit limit with principal card holder)

It's the same case as bankruptcy, just because one of your family member went bankrupt doesn't means the bank can come after you, unlike ah longs.
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Old 09-08-2019, 12:13 AM   #3
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Your credit scores shouldn't be affected at all. Feel free to check your credit scores with CBS (you can get 1 for free).

https://www.creditbureau.com.sg/promotions.html

Let us know yea!
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Old 09-08-2019, 11:36 AM   #4
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Hmm, interesting case, but my guess is no. They have no legal ground to chase any of your family member. Sub card is technically under the responsibility of the principal card holder. (Ie: it is still sharing credit limit with principal card holder)

It's the same case as bankruptcy, just because one of your family member went bankrupt doesn't means the bank can come after you, unlike ah longs.
Your credit scores shouldn't be affected at all. Feel free to check your credit scores with CBS (you can get 1 for free).

https://www.creditbureau.com.sg/promotions.html

Let us know yea!
Thanks all. Actually I recently applied for a CC and got the free credit report along with it, the sub card didn't show up on the report. So I think should be alright.
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