will my credit card insurance pay off bills for someone I added to my account if they die? October 17, 2009
Posted by Banking in : Personal Finance , trackbacksacch4 asked:
My grandfather has added my uncle to his credit cards that have credit insurance on them. My uncle passed away and the credit card companys says they will not pay off the debt accumulated by my uncle because he was not the primary card holder. Is this legal? What rights does my grandfather have?
Comments»
Correct (at least in UK) .. here the ‘main’ card holder ‘owns’ the Card Account and is totally responsible for all spending on the account ..
Any ‘additional card holders’ are simply people that the ‘main’ card holder has given legal permission to spend ‘on their behalf’ … it’s like giving them a book of pre-signed blank cheques ..
So the debt is NOT your Uncles, but your Grandfathers (and always has been) …