At what age do you make your child an AU?

[Existentialist]

What we're really talking about when it comes to wise credit management is understanding how to wisely manage one's life affairs of which credit is a key part. Neither is it about the component of age as much as its about nurturing & reinforcing responsibility. And by all accounts that should ideally start as early as possible. Are U raising kids to be responsible in the home re: chores, homework, extra-curricular activities, positive social interactions, part time job(?) respect for authority...

Good habits begin @ home. And what should be strived for is producing well adjusted kids who will one day hopefully become well adjusted adults. To that extent its not about preparing kids necessarily for the world of credit....

rather preparing them to successfully navigate the journey of life.

[too-much-time]

That was beautiful. I’m so touched that I can barely contain myself. Someone hand me a handkerchief, the tears are running down my cheeks and taking the mascara with them, my nose is dripping, my lips are swollen, and my hair is stuck to my wet face!

[Anonymous]

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@Anonymous wrote:

My dad added me as an AU when I was 6, then again when I was 22.  I got my first personal card at 23, I know how to manage my finances.  As a result, my scores are >750, I have >$60,000 in credit personally available with only 14 months of real history backing me

Huge shout out to my dad for building my credit portfolio long before I knew what credit was.

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I had no idea that you could even add an AU at this age! I have a 5 year old son. My parents raised me with no knowledge of credit and definitely no help in obtaining credit. I wonder if I should add my boy to a card so that it will begin building for him.

[vanillabean]

So let’s say that a baby becomes an authorized user on your card at the time of the first pacifier. Fast forward 21 years. If the person is in college and may have no income, what are the chances of getting approved for a card as primary?

[0errant]

I'm not understanding why anyone is worried about the length of time a child has been an AU? I just added my 24yo son to my Home Depot card last month (that way I don't have to go with him when he needs materials to do work on the house). He pulled his report this month and shows he's had the HD card since 2006. Adding him when he was 10 wouldn't have changed a thing.

[Anonymous]

i became an authorized user at age 12

used the card a lot and paid it off 

got my own cards at 18 creditscores were around 800 due to that history

it definitely didnt help to start so high imo as from there it can only go down

[Thomas_Thumb]

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@youdontkillmoney wrote:

At what age do you give your child a credit card as an authorized user (say, you limit that card line to $300); I'm thinking I'd do it when they are 15 (start of high school)?

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Never.

Our daughter had a debit card only through high school. In college, after some part time work as a CNA, she qualified for her own credit card - without need for co-sign.

She will finish up this year and then onto grad school (at her expense) to pursue a masters degree as a PA. Getting there "on her own" has given her confidence and reduced her reliance on parents. I am not an advocate of AU status except for a spouse on a card used for household expenses.

[Anonymous]

My mother added me as a AU when i was 16.... She was terrible with Credit cards. Racked up bills and never paid which in turn runined my credit before i was even 18. It took alot of fighting to get the Baddies removed from my Credit report.  I deff didnt learn the correct way to handle money/credit and budgets till i was older ( mid-late 20's)  I'm 31 now and just finally am getting a head. 

On the other hand my GF at the time was a AU on her parents CC and it gave her a huge jump start on haveing 700+ credit score in her late teens early 20's

So i guess my answer is  yes  add them only if your a responsilbe parent and teach them how to handle  money/Credit as early as possible. it will be a  great jump start on their credit score if done correctly 

[fuzzybean]

I added my oldest to my lowest available credit credit card when she turned 18.  I told her I'd leave her on there 3 years.  I was also on the checking account she had since 16.  I monitored everything very closely.  Once I noticed she was coming way too close to being overdrawn on several occasions, I closed our joint checking and told her she was on her own.  She was very good with the credit card.  She used it once or twice a month and mailed me a check.  After a while there wasn't much communication between us and she stopped using the card so I removed her as an AU.

[Anonymous]

Right now. Coming from an 18 year old who has reaped the benefits of being an AU. 

Shred the card if you don't think your child is responsible.