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Established Contributor
CribDuchess
Posts: 658
Registered: ‎09-12-2011
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Re: Adding under 18 as authorized user on amex


snowkitty wrote:
I didn't know you could even add your kids to a card under 18. Is this just an amex thing? My kids are 15 & 10 .... do people do this to build their credit or give them ability to shop?


I added my 15-year old son to my BCE and Optima cards earlier this year.  My primary reason was to teach him about credit.  But I also added him so that he could earn cash back and rewards points for me.  I figure he's out spending my money anyway, he might as well earn some rewards for me. 

 

FICOs: TU08 841 10/6/14 per Wally; TU98 800 4/8/14; EQ04 769 6/8/14; EQ08 800 11/8/14; EX 805 6/12/14 per MyFICO

My Wallet: Amex Gold NPSL; Amex Optima Platinum $25K; Amex Costco TE $15K; Amex BCE $12K; BofA Visa $10.1K; Cap1 Quicksilver Visa Sig $10K; CSP $28.2K; Chase Freedom $13K; Citi Double Cash $10K; Citi Simplicity Visa $15.1K; Discover IT $24K; Fidelity Amex $25K; PenFed Plat Rewards Visa Sig $20K; Sallie Mae WMC $12.5K; US Bank Cash+ Visa Sig $24.5K; Walmart Discover $10K; Wells Fargo Rewards Visa Sig $14K
Frequent Contributor
GBPac12
Posts: 252
Registered: ‎12-09-2011
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Re: Adding under 18 as authorized user on amex


CribDuchess wrote:

snowkitty wrote:
I didn't know you could even add your kids to a card under 18. Is this just an amex thing? My kids are 15 & 10 .... do people do this to build their credit or give them ability to shop?


I added my 15-year old son to my BCE and Optima cards earlier this year.  My primary reason was to teach him about credit.  But I also added him so that he could earn cash back and rewards points for me.  I figure he's out spending my money anyway, he might as well earn some rewards for me. 

 


+1

LOL...

 

I actually just added my younger brother and sister to my Discover. It back dated them to 2009, giving them 2-3ish years of good credit history. I am glad I learned about credit at the age I did, I will try to pass that on. Here is hoping for more credit bliss LOL...

 

I also didn't realize that there was a minimum age for Amex, or AU in general. I just gave my sister and brothers names when adding them to my Discover, not to sure if that just varies from CCC to CCC.


Starting Score: EQ: 600, EX: 580, TU: 599
Current Score: EQ: 710 on 01/22/12, TU: 763 on 02/02/12, EX: 753 on 1/28/13
Goal Score: EQ: 775, TU: 775, EX: 775


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Regular Contributor
DeadSpider
Posts: 244
Registered: ‎07-29-2012
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Re: Adding under 18 as authorized user on amex

Giving credit to kids as AU with Amex helps how to be responsible with credit and with AMEX you can cap AU's limit.

Cap1 QS $11500, Freedom $5000K, Slate $8000 Amex Sky $2000K, Discover IT $4400, BCE $8800, NFL $1500, Lowes $7000

Starting Score: 0
Current Score: 742
Goal Score: 800


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TNTransplant
Posts: 772
Registered: ‎01-03-2012
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Re: Adding under 18 as authorized user on amex


DeadSpider wrote:

Giving credit to kids as AU with Amex helps how to be responsible with credit and with AMEX you can cap AU's limit.


This.  Just added my 15yo nephew this month as a way to (hopefully) build an Amex history for future backdating, and to teach him to use credit responsibly.  Hopefully I can teach him to avoid the same mistakes I made starting out.  Also, Amex is great about letting you cap AU limits/keeping an eye on the card.  


Starting Score: Jan 2012: EQ - 659, TU08 - 670, EX - ???
Current Score:April 2014: EQ - 772, TU08 - 782, EX - 754
Last App:3/21/14


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