Vietnam banking regulations on supplementary credit card debt

Under Circular No. 18/2024/TT-NHNN issued by the State Bank of Vietnam, the primary cardholder bears full legal responsibility for all obligations and debts incurred by a supplementary cardholder.

While primary cardholders may seek reimbursement from the supplementary cardholder through private agreements or legal action, these internal arrangements do not absolve the primary holder of their debt obligations to the bank. Failure to settle supplementary card debts can result in interest charges, fees, and potential damage to the primary cardholder's credit history.

The impact on the supplementary cardholder's credit record depends on the specific card issuance profile and relevant regulations, meaning both parties are not automatically recorded with bad debt.