@CreditSeductress wrote:
@SunriseEarth wrote:+1 That's my opinion, too. TBH, I'm a little uncomfortable with the fact that the OP applied for credit on his behalf. That really should have been his decision to apply for anything. It's not like AAoA was a concern, since his AMEX MSD was already set a few years ago. Hopefully, it works out for the best.
That's fine SunriseEarth. I respect your opinion. The fact of the matter is, knowing what I know about credit, I....yes I am going to start both of my boys on the same path credit wise. When I added them as AU's, they didn't know until I received the cards in the mail. Were they excited...oh yeah! The first thing that came out of my oldest son's mouth was, "Oooh, now I can buy a car!"
LOL! No Buddy, I don't think so! My younger son wanted to go to Walmart and buy up the whole candy section!
All I could think was, WOW....just WOW! LOL!
He wasn't thinking about applying for anything, and probably wouldn't have. Knowing that he'll need credit in the future, I set him up now. I'm making sure he'll be fine later. Maybe it's not the path you would take, but it's my approach for my children.
He knows he has his own card now, and is excited about it. He was also excited when I told him his Equifax credit score was a 773. (Got that from the paperwork Cap 1 sent.) He gave me a big hug when I told him that. Again, that's something he's not thinking about....but it's being taken care of.
He treated his Mommy to dinner tonight, signed the receipt and gave the tip. (Momma taught him good!) When we got home, the card was put up. He knows he won't be taking that card with him to school. He's not ready to carry a $5000.00 limit around with him. We conversate about credit and money issues all the time. That's why he'll be taking (My Amex) card, not his, that he is an AU on, to school with a $200.00 limit. I say that because, it's in his name, but I'm responsible for the payments. I'm the primary card holder, he's just authorized to use it.
You may not agree, but I've seen grown men with absolutely no credit, in their 30's, because they use cash only. I got my brother's credit profile rockin', and I make sure before the due dates of his cards, he put's the money is in his bank account (that I made him get...and yes, he's 30 something), and I pay them off for him. I guess it's just in my blood. So many people wish they had the start I'm giving my boys. Although, I understand your statement, and concern...I really do.
I think having DS added an AU at a young age is a great move, as is limiting his use of that card. I think it's great that you've taught him how to manage his use of credit lines. And those two steps alone would have been an excellent start for his credit. That's where it should have stopped.
What I have an issue with is that you appear to be signing contracts on behalf of someone who is of the age of majority. If you had strongly suggested to him to complete an application, I'd have no issue. if you're taking his information and applying for something on his behalf without his knowledge or approval, that's legally questionable, at best, despite your good intentions. I would strongly advise that you not apply for anything further on his behalf without his permission to prevent any possible legal issues or questions.
I should also generally caution that discussion of illegal or unethical activities is against the TOS of the myFICO forums.
@SunriseEarth wrote:
@CreditSeductress wrote:
@SunriseEarth wrote:+1 That's my opinion, too. TBH, I'm a little uncomfortable with the fact that the OP applied for credit on his behalf. That really should have been his decision to apply for anything. It's not like AAoA was a concern, since his AMEX MSD was already set a few years ago. Hopefully, it works out for the best.
That's fine SunriseEarth. I respect your opinion. The fact of the matter is, knowing what I know about credit, I....yes I am going to start both of my boys on the same path credit wise. When I added them as AU's, they didn't know until I received the cards in the mail. Were they excited...oh yeah! The first thing that came out of my oldest son's mouth was, "Oooh, now I can buy a car!"
He wasn't thinking about applying for anything, and probably wouldn't have. Knowing that he'll need credit in the future, I set him up now. I'm making sure he'll be fine later. Maybe it's not the path you would take, but it's my approach for my children.
He knows he has his own card now, and is excited about it. He was also excited when I told him his Equifax credit score was a 773. (Got that from the paperwork Cap 1 sent.) He gave me a big hug when I told him that. Again, that's something he's not thinking about....but it's being taken care of.
He treated his Mommy to dinner tonight, signed the receipt and gave the tip. (Momma taught him good!) When we got home, the card was put up. He knows he won't be taking that card with him to school. He's not ready to carry a $5000.00 limit around with him. We conversate about credit and money issues all the time. That's why he'll be taking (My Amex) card, not his, that he is an AU on, to school with a $200.00 limit. I say that because, it's in his name, but I'm responsible for the payments. I'm the primary card holder, he's just authorized to use it.
You may not agree, but I've seen grown men with absolutely no credit, in their 30's, because they use cash only. I got my brother's credit profile rockin', and I make sure before the due dates of his cards, he put's the money is in his bank account (that I made him get...and yes, he's 30 something), and I pay them off for him. I guess it's just in my blood. So many people wish they had the start I'm giving my boys. Although, I understand your statement, and concern...I really do.
I think having DS added an AU at a young age is a great move, as is limiting his use of that card. I think it's great that you've taught him how to manage his use of credit lines. And those two steps alone would have been an excellent start for his credit. That's where it should have stopped.
What I have an issue with is that you appear to be signing contracts on behalf of someone who is of the age of majority. If you had strongly suggested to him to complete an application, I'd have no issue. if you're taking his information and applying for something on his behalf without his knowledge or approval, that's legally questionable, at best, despite your good intentions. I would strongly advise that you not apply for anything further on his behalf without his permission to prevent any possible legal issues or questions.
I should also generally caution that discussion of illegal or unethical activities is against the TOS of the myFICO forums.
Again, that is your opinion, and that is fine. We talked about me starting him a credit profile of his own as soon as he turned 18. This is something we'd already talked about, and agreed upon. (So I got his permission) At 18 years old, he has no problem with me building his credit profile. Which I will continue to do, as he is satisfied with this.
I am doing nothing illegal. He knows he has the card, and knows he won't be taking it with him to school. This is something we've talked about. I'm not worried about any legal issues, or questions, as I'm not using his credit for myself. He is very much aware of what is going on. He knows his next card will be an American Express, but he has to wait a few months. Then Discover will follow suit.
Also, thanks for the caution, but it's not needed, as nothing I did was illegal or unethical. If the limit on the card was $300.00, then he'd be taking that card to school, but since it's $5000.00 he will not. He knows why, and he understands. Trust me, he appreciates what I am doing for him. Although, again, I do understand your concern. No fraud being committed here. That is something I would never do to anyone.
@SunriseEarth wrote:
@CreditSeductress wrote:
@SunriseEarth wrote:+1 That's my opinion, too. TBH, I'm a little uncomfortable with the fact that the OP applied for credit on his behalf. That really should have been his decision to apply for anything. It's not like AAoA was a concern, since his AMEX MSD was already set a few years ago. Hopefully, it works out for the best.
That's fine SunriseEarth. I respect your opinion. The fact of the matter is, knowing what I know about credit, I....yes I am going to start both of my boys on the same path credit wise. When I added them as AU's, they didn't know until I received the cards in the mail. Were they excited...oh yeah! The first thing that came out of my oldest son's mouth was, "Oooh, now I can buy a car!"
He wasn't thinking about applying for anything, and probably wouldn't have. Knowing that he'll need credit in the future, I set him up now. I'm making sure he'll be fine later. Maybe it's not the path you would take, but it's my approach for my children.
He knows he has his own card now, and is excited about it. He was also excited when I told him his Equifax credit score was a 773. (Got that from the paperwork Cap 1 sent.) He gave me a big hug when I told him that. Again, that's something he's not thinking about....but it's being taken care of.
He treated his Mommy to dinner tonight, signed the receipt and gave the tip. (Momma taught him good!) When we got home, the card was put up. He knows he won't be taking that card with him to school. He's not ready to carry a $5000.00 limit around with him. We conversate about credit and money issues all the time. That's why he'll be taking (My Amex) card, not his, that he is an AU on, to school with a $200.00 limit. I say that because, it's in his name, but I'm responsible for the payments. I'm the primary card holder, he's just authorized to use it.
You may not agree, but I've seen grown men with absolutely no credit, in their 30's, because they use cash only. I got my brother's credit profile rockin', and I make sure before the due dates of his cards, he put's the money is in his bank account (that I made him get...and yes, he's 30 something), and I pay them off for him. I guess it's just in my blood. So many people wish they had the start I'm giving my boys. Although, I understand your statement, and concern...I really do.
I think having DS added an AU at a young age is a great move, as is limiting his use of that card. I think it's great that you've taught him how to manage his use of credit lines. And those two steps alone would have been an excellent start for his credit. That's where it should have stopped.
What I have an issue with is that you appear to be signing contracts on behalf of someone who is of the age of majority. If you had strongly suggested to him to complete an application, I'd have no issue. if you're taking his information and applying for something on his behalf without his knowledge or approval, that's legally questionable, at best, despite your good intentions. I would strongly advise that you not apply for anything further on his behalf without his permission to prevent any possible legal issues or questions.
I should also generally caution that discussion of illegal or unethical activities is against the TOS of the myFICO forums.
Seriously? Get real. She clearly has good intentions and already got his permission beforehand.
@CreditSeductress wrote:
@SunriseEarth wrote:
@CreditSeductress wrote:
@SunriseEarth wrote:+1 That's my opinion, too. TBH, I'm a little uncomfortable with the fact that the OP applied for credit on his behalf. That really should have been his decision to apply for anything. It's not like AAoA was a concern, since his AMEX MSD was already set a few years ago. Hopefully, it works out for the best.
That's fine SunriseEarth. I respect your opinion. The fact of the matter is, knowing what I know about credit, I....yes I am going to start both of my boys on the same path credit wise. When I added them as AU's, they didn't know until I received the cards in the mail. Were they excited...oh yeah! The first thing that came out of my oldest son's mouth was, "Oooh, now I can buy a car!"
He wasn't thinking about applying for anything, and probably wouldn't have. Knowing that he'll need credit in the future, I set him up now. I'm making sure he'll be fine later. Maybe it's not the path you would take, but it's my approach for my children.
He knows he has his own card now, and is excited about it. He was also excited when I told him his Equifax credit score was a 773. (Got that from the paperwork Cap 1 sent.) He gave me a big hug when I told him that. Again, that's something he's not thinking about....but it's being taken care of.
He treated his Mommy to dinner tonight, signed the receipt and gave the tip. (Momma taught him good!) When we got home, the card was put up. He knows he won't be taking that card with him to school. He's not ready to carry a $5000.00 limit around with him. We conversate about credit and money issues all the time. That's why he'll be taking (My Amex) card, not his, that he is an AU on, to school with a $200.00 limit. I say that because, it's in his name, but I'm responsible for the payments. I'm the primary card holder, he's just authorized to use it.
You may not agree, but I've seen grown men with absolutely no credit, in their 30's, because they use cash only. I got my brother's credit profile rockin', and I make sure before the due dates of his cards, he put's the money is in his bank account (that I made him get...and yes, he's 30 something), and I pay them off for him. I guess it's just in my blood. So many people wish they had the start I'm giving my boys. Although, I understand your statement, and concern...I really do.
I think having DS added an AU at a young age is a great move, as is limiting his use of that card. I think it's great that you've taught him how to manage his use of credit lines. And those two steps alone would have been an excellent start for his credit. That's where it should have stopped.
What I have an issue with is that you appear to be signing contracts on behalf of someone who is of the age of majority. If you had strongly suggested to him to complete an application, I'd have no issue. if you're taking his information and applying for something on his behalf without his knowledge or approval, that's legally questionable, at best, despite your good intentions. I would strongly advise that you not apply for anything further on his behalf without his permission to prevent any possible legal issues or questions.
I should also generally caution that discussion of illegal or unethical activities is against the TOS of the myFICO forums.
Again, that is your opinion, and that is fine. We talked about me starting him a credit profile of his own as soon as he turned 18. This is something we'd already talked about, and agreed upon. (So I got his permission) At 18 years old, he has no problem with me building his credit profile. Which I will continue to do, as he is satisfied with this.
I am doing nothing illegal. He knows he has the card, and knows he won't be taking it with him to school. This is something we've talked about. I'm not worried about any legal issues, or questions, as I'm not using his credit for myself. He is very much aware of what is going on. He knows his next card will be an American Express, but he has to wait a few months. Then Discover will follow suit.
Also, thanks for the caution, but it's not needed, as nothing I did was illegal or unethical. If the limit on the card was $300.00, then he'd be taking that card to school, but since it's $5000.00 he will not. He knows why, and he understands. Trust me, he appreciates what I am doing for him. Although, again, I do understand your concern. No fraud being committed here. That is something I would never do to anyone.
I appreciate your clarification on the issue of DS giving consent to the apps. Unfortunately, many parents and other family members are not as well-intended (one only needs to visit our "Relationships" board to see) and have opened accounts in this sort of manner, then add themselves as AUs and run up bills. As such, I feel it's important to ensure that apps only occur with the permission of the person granted credit. I would hate for someone to read this thread and then run off and app for their child without discussion or permission (they'd really be missing the point, wouldn't they?). I thank you for entertaining my scrutiny on this.
As for your steps you are taking on DS' credit, they are good, solid choices. DS does seem passive in this, however, so I do hope he takes a more active role in managing his own credit in the future. That, of course, would come in time.
@abundancejones wrote:
@SunriseEarth wrote:
@CreditSeductress wrote:
@SunriseEarth wrote:+1 That's my opinion, too. TBH, I'm a little uncomfortable with the fact that the OP applied for credit on his behalf. That really should have been his decision to apply for anything. It's not like AAoA was a concern, since his AMEX MSD was already set a few years ago. Hopefully, it works out for the best.
That's fine SunriseEarth. I respect your opinion. The fact of the matter is, knowing what I know about credit, I....yes I am going to start both of my boys on the same path credit wise. When I added them as AU's, they didn't know until I received the cards in the mail. Were they excited...oh yeah! The first thing that came out of my oldest son's mouth was, "Oooh, now I can buy a car!"
He wasn't thinking about applying for anything, and probably wouldn't have. Knowing that he'll need credit in the future, I set him up now. I'm making sure he'll be fine later. Maybe it's not the path you would take, but it's my approach for my children.
He knows he has his own card now, and is excited about it. He was also excited when I told him his Equifax credit score was a 773. (Got that from the paperwork Cap 1 sent.) He gave me a big hug when I told him that. Again, that's something he's not thinking about....but it's being taken care of.
He treated his Mommy to dinner tonight, signed the receipt and gave the tip. (Momma taught him good!) When we got home, the card was put up. He knows he won't be taking that card with him to school. He's not ready to carry a $5000.00 limit around with him. We conversate about credit and money issues all the time. That's why he'll be taking (My Amex) card, not his, that he is an AU on, to school with a $200.00 limit. I say that because, it's in his name, but I'm responsible for the payments. I'm the primary card holder, he's just authorized to use it.
You may not agree, but I've seen grown men with absolutely no credit, in their 30's, because they use cash only. I got my brother's credit profile rockin', and I make sure before the due dates of his cards, he put's the money is in his bank account (that I made him get...and yes, he's 30 something), and I pay them off for him. I guess it's just in my blood. So many people wish they had the start I'm giving my boys. Although, I understand your statement, and concern...I really do.
I think having DS added an AU at a young age is a great move, as is limiting his use of that card. I think it's great that you've taught him how to manage his use of credit lines. And those two steps alone would have been an excellent start for his credit. That's where it should have stopped.
What I have an issue with is that you appear to be signing contracts on behalf of someone who is of the age of majority. If you had strongly suggested to him to complete an application, I'd have no issue. if you're taking his information and applying for something on his behalf without his knowledge or approval, that's legally questionable, at best, despite your good intentions. I would strongly advise that you not apply for anything further on his behalf without his permission to prevent any possible legal issues or questions.
I should also generally caution that discussion of illegal or unethical activities is against the TOS of the myFICO forums.
Seriously? Get real. She clearly has good intentions and already got his permission beforehand.
OP clarified that she obtained permission to app from DS, which resolved my concerns regarding her process. I feel it is important to ensure that members of this community only discuss credit practices that are legal and ethical. OP had no issue affirming her own commitment to that guideline. If you have any concerns in that regards, free free to review the TOS of the boards.
