My wife got a marketing letter from TD Visa recently which has the headline
“Share the value and convenience of your TD Visa Account with family and friends…
No approval required”
The idea is that you can apply for extra credit cards which you can give to friends/family/neighbours/shifty guy at bus stop etc. We got a bit of a laugh from the letter since the idea of getting a credit card for your friends seems a bit silly. I can see maybe lending your card in an emergency but actually getting a card for them?
Obviously they are just trying to expand their business and getting their existing customers to use more products is a pretty good way to do this. I did this for my wife (got her a second Visa card) but I feel at this point in time that she is fairly trustworthy.
Other than for a spouse or child (maybe) I just can’t see ever, ever doing this – can you?