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Helping dd's credit by adding as AU?

Regular Contributor

Helping dd's credit by adding as AU?

Not sure if this should go in 'relationships' or 'general.' Mods feel free to move.

My daughter is now 18 & in order to help her establish credit, I'd like to add her as an AU on one of my cc's. However, I don't want her to have actual access to the card, as she'd likely be horrible with it & spend, spend, spend. Can I request to have her added as an AU but still have the card sent to me in Hawaii (she currently lives in Missouri)?
Starting FICO 667 (5/2012) EQ
672 (7/2012) EQ. 681 (8/1/12) EQ
Current FICO 682 (10/13/12) EQ; 718 (10/13/12) TU
Goal: 760+ but 700-720 by jan 2013
No new apps tll jul 2013
Message 1 of 8
7 REPLIES
Valued Contributor

Re: Helping dd's credit by adding as AU?


Asailorshort wrote:
Not sure if this should go in 'relationships' or 'general.' Mods feel free to move.

My daughter is now 18 & in order to help her establish credit, I'd like to add her as an AU on one of my cc's. However, I don't want her to have actual access to the card, as she'd likely be horrible with it & spend, spend, spend. Can I request to have her added as an AU but still have the card sent to me in Hawaii (she currently lives in Missouri)?

 

Typically, the card is sent to the billing address on file.
Message 2 of 8
Super Contributor

Re: Helping dd's credit by adding as AU?


Asailorshort wrote:
Not sure if this should go in 'relationships' or 'general.' Mods feel free to move.

My daughter is now 18 & in order to help her establish credit, I'd like to add her as an AU on one of my cc's. However, I don't want her to have actual access to the card, as she'd likely be horrible with it & spend, spend, spend. Can I request to have her added as an AU but still have the card sent to me in Hawaii (she currently lives in Missouri)?

As mentioned they'll likely send the AU card to you.    Another idea is to make her an additional cardmember on an AMEX Charge Card ( if you already have an account ).   This would allow you to set a cap on her account, whilst helping her learn the concept of paying in full every month.    Also it would establish a member since date for her with AMEX so that any future accounts she opens are backdated to that year on her credit reports.

March2010 FICO® ~ 695 TU, 653 EQ, 697 EX
Message 3 of 8
Regular Contributor

Re: Helping dd's credit by adding as AU?

Ah! Another reason people love Amex. Unfortunately, I don't have an Amex card. Actually all my cards are pretty new, but it'd still give her a couple years of history.
Starting FICO 667 (5/2012) EQ
672 (7/2012) EQ. 681 (8/1/12) EQ
Current FICO 682 (10/13/12) EQ; 718 (10/13/12) TU
Goal: 760+ but 700-720 by jan 2013
No new apps tll jul 2013
Message 4 of 8
Highlighted
Valued Contributor

Re: Helping dd's credit by adding as AU?

We have had our daughter on several of our credit cards since she turned 15. She is now 20 and has a nice solid credit score. My husband signed with her for her to get a student card from PenFed when she turned 18, so she is now building credit under her own name as well. Our daughter actually carries some of the cards, and others she doesn't. You can have it sent to you and then even cut it up if you want to, but she'll still have the benefit on her scores.

 

I'm not certain about what was said before about establishing a date with AmEx. They won't always backdate new cards based on an AU status.

Message 5 of 8
Valued Member

Re: Helping dd's credit by adding as AU?

just do it but have the card sent to you, do a litmus test by giving her the card but cap it to very low spending limit, let the card bouce if she tries to go over the limit when she calls you that the card was denied then you will make an unbiased decision tha she is bad with money management,just bcause you love her doesnt mean you have to succumb to her irresponssibility. in my opinion.

drash
Message 6 of 8
New Member

Re: Helping dd's credit by adding as AU?

I recently added my grown DD to 3 of my credit cards as an authorized user.  Two of the credit cards have very high CL.  I did not have a card issued for her.  One of the cards has a very low limit (500.00).  I had a card issued to her  in her name for her use with strict guidelines on how to use it i.e. PIF each month at least 2 days prior to the due date and no use on the card between the due date and the day the statement cuts approximately 3 days after the due date.  If she follows the rules I will let her keep the card, if not I will be canceling her as an authorized user.

Message 7 of 8
Moderator Emeritus

Re: Helping dd's credit by adding as AU?

Time to lock this old thread.

Message 8 of 8