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Established Contributor
distantarray
Posts: 2,112
Registered: ‎09-25-2011

Re: AU minimum age

[ Edited ]

WarJar101 wrote:

grubs wrote:
Would also like to know



Also very curious. If that's the case then, I'll put my little brother down right now as an AU for AMEX and give him a headstart. He's 15. Another thing, when you open an AU account does the AU have to use the card or would I be able to SD the card and let him get some history without having to swipe lol?

 

 

 

 


you can SD it. Also with other card companies, you can even add your dog as an authorized user in many cases. But in your best interest it's best to freeze the card, and let him keep it in his wallet. Amex has a control where you can suspend the account so he can't use it, but let's say emergency happens, you can unfreeze it when he needs it. You can also set lower credit limits only as much as your willing to trust him with.

 

Amex also lets you set a personal credit limit to AU's. So if you have a $10,000 credit limit, you can set a $500 if you want, but full $10,000 will be reported on their credit file.

 

Amex also itemizes and bills the authorized user (additional card member Amex likes to call it) they get their own statement, and you can see exactly what they buy, Chase really needs to step up in the game on this one, cause I'm sick of having to go through it mannually and be like is this my bill or yours?


total credit limits $108,400 Credit scores Ex 728 EQ 738 TU 758
Frequent Contributor
WarJar101
Posts: 341
Registered: ‎08-14-2012

Re: AU minimum age


distantarray wrote:

WarJar101 wrote:

grubs wrote:
Would also like to know



Also very curious. If that's the case then, I'll put my little brother down right now as an AU for AMEX and give him a headstart. He's 15. Another thing, when you open an AU account does the AU have to use the card or would I be able to SD the card and let him get some history without having to swipe lol?

 

 

 

 


you can SD it. Also with other card companies, you can even add your dog as an authorized user in many cases. But in your best interest it's best to freeze the card, and let him keep it in his wallet. Amex has a control where you can suspend the account so he can't use it, but let's say emergency happens, you can unfreeze it when he needs it. You can also set lower credit limits only as much as your willing to trust him with.

 

Amex also lets you set a personal credit limit to AU's. So if you have a $10,000 credit limit, you can set a $500 if you want, but full $10,000 will be reported on their credit file.

 

Amex also itemizes and bills the authorized user (additional card member Amex likes to call it) they get their own statement, and you can see exactly what they buy, Chase really needs to step up in the game on this one, cause I'm sick of having to go through it mannually and be like is this my bill or yours?




Omg, this is awesome.  So the AU account will report to all three credit bureaus as well right? Thanks for the information.:smileyhappy:

Cap One Platinum MC $2.5k CL (08/12)
Citi Forward Student Visa Card $1.5k CL (09/12)
Express NEXT Card $0.25k CL (02/13), Jcrew CC $0.7k CL(02/13)
AMEX PRG NPSL (03/13), AMEX Gold Delta Skymiles 2k (03/13)
Walmart Credit Card $1.5k (03/13)
TU: 687 FICO (3/13) | EX: 692 Lender Pull (3/13) | EQ: 678 (4/1/13)
Valued Contributor
thom02099
Posts: 1,317
Registered: ‎08-30-2011

Re: AU minimum age


WarJar101 wrote:

distantarray wrote:

WarJar101 wrote:

grubs wrote:
Would also like to know



Also very curious. If that's the case then, I'll put my little brother down right now as an AU for AMEX and give him a headstart. He's 15. Another thing, when you open an AU account does the AU have to use the card or would I be able to SD the card and let him get some history without having to swipe lol?

 

 

 

 


you can SD it. Also with other card companies, you can even add your dog as an authorized user in many cases. But in your best interest it's best to freeze the card, and let him keep it in his wallet. Amex has a control where you can suspend the account so he can't use it, but let's say emergency happens, you can unfreeze it when he needs it. You can also set lower credit limits only as much as your willing to trust him with.

 

Amex also lets you set a personal credit limit to AU's. So if you have a $10,000 credit limit, you can set a $500 if you want, but full $10,000 will be reported on their credit file.

 

Amex also itemizes and bills the authorized user (additional card member Amex likes to call it) they get their own statement, and you can see exactly what they buy, Chase really needs to step up in the game on this one, cause I'm sick of having to go through it mannually and be like is this my bill or yours?




Omg, this is awesome.  So the AU account will report to all three credit bureaus as well right? Thanks for the information.:smileyhappy:


For AMEX as an Additional Card Member (their term for AU)...YES!  I added both my kids as ACM's to one of my AMEX accounts, my daughter was still a minor at the time, and within 3 months of reporting, she had a TL on her own credit report. 

 

I also added both as AU to my Discover account and CITI Diamond Preferred account.  It took a while longer for those to report, but they finally did.  So my kids ended up with some prime TL, particularly for my daughter, who has a car loan and now student loans in her name.  Last time we checked, her FICO EX score (from our lender) was 728!  Not bad for a 19year old college student!

AMEX Gold NPSL / AMEX Zync NPSL / AMEX Blue Cash Preferred $14K / Bank of America Cash Rewards Signature Visa $15K / Merrill Lynch Plus Signature Visa $15K / Wells Fargo Propel 365 $15K / Chase Sapphire Preferred Signature Visa $10K / J P Morgan Select Signature Visa $10K / Chase Slate Visa $6K / CITI Diamond Preferred MasterCard $13.2K / Discover IT $10.5K / IberiaBank Select Visa $8K / 1st Command Bank Platinum Visa $7.5K // Home Depot $9.7K / Lowes $10K

EX = 768 EQ = 828 TU = 834 - June/2014
Frequent Contributor
WarJar101
Posts: 341
Registered: ‎08-14-2012

Re: AU minimum age

Not bad at all. Thanks for sharing this piece of information.

Cap One Platinum MC $2.5k CL (08/12)
Citi Forward Student Visa Card $1.5k CL (09/12)
Express NEXT Card $0.25k CL (02/13), Jcrew CC $0.7k CL(02/13)
AMEX PRG NPSL (03/13), AMEX Gold Delta Skymiles 2k (03/13)
Walmart Credit Card $1.5k (03/13)
TU: 687 FICO (3/13) | EX: 692 Lender Pull (3/13) | EQ: 678 (4/1/13)

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