topic Re: Just curious thought on adding AU in Credit Cards

Adding the minor child as AU ...

Anonymous — Thu, 30 Sep 2010 00:33:32 GMT

I just added my daughter on my Discover More over the phone. The rep asked her Name ONLY, and verified my mailing address. The rep did not ask her SSN nor design of a card. They sent me a basic design one, which is fine with me because I am keeping it. I am not going to give a card to her to take a chance to get screw up my CR by her.

Q1. How can they tell that she is minimum qualified age or not?

Q2. If they can’t tell the age, may be ask to add my son (14) also … what do you think?

Re: Just curious thought on adding AU

Anonymous — Wed, 22 Sep 2010 09:00:17 GMT

@Anonymous wrote:
I just added my daughter on my Discover More over the phone. The rep asked her Name ONLY, and verified my mailing address. The rep did not ask her SSN nor design of a card. They sent me a basic design one, which is fine with me because I am keeping it. I am not going to give a card to her to take a chance to get screw up my CR by her.

Q1. How can they tell that she is minimum qualified age or not?
Q2. If they can’t tell the age, may be ask to add my son (14) also … what do you think?

What is minimum qualified age?

I don't think there is any legal age for AU, although Creditors may have their own policy on this.

Re: Just curious thought on adding AU

Creditaddict — Wed, 22 Sep 2010 16:54:43 GMT

If you add him before he is 18, when he turns 18 he will already have an established credit history and score without waiting the generally 6 months after obtaining first card to get a fico score... This will help him a ton when looking for his first card. I had a card under my parents since I was 16 and when I turned 18 the first card I got on my birthday was Citi and they gave me 5k!!

Re: Just curious thought on adding AU

Anonymous — Wed, 22 Sep 2010 17:13:04 GMT

I was added to my moms Discover via the website. Was added on my cr 5 days later.

Re: Adding the minor child as AU ...

Anonymous — Thu, 30 Sep 2010 00:35:03 GMT

Thanks everyone! Ok, I am more confident to add him to mine now.

Question:

a) Is it better to add him on to other than Discover More? or it doesn't matter?

b) Is it better to add him on to high CL cc? or older age cc?

c) He have joint saving accts with each parents with NFCU. Is it possible that they may say "No" because they knows my son's age?

d) Is it better with multiple ccs?

e) If you are going to add your child or if your parents is going to add you, which card do you choose?

My ccs in order of most often use:

1. Chase Freedom VISA 08/05' ~ 8.6 k

2. Chase Freedom World MC 09/06' ~ 9.0 k

*Report Highest of $5232.

3. Citi Driver's Edge MC 01/08' ~ 8.6 k

4. Discover More 01/08' ~ 2.5 k

*09/10' add my daughter as AU

5. Amex Blue 12/05' ~ 8.0 k

*use once a month with small purchase

6. Chase MC (Wa-Mu Platinum) 02/09' ~ 6.0 k

*use every 4~6 months with small purchase

7. NFCU nRewards 10/99' ~ 5.0 k

*use every 4~6 months with small purchase

8. NFCU cashRewards 05/09' ~ 3.0 k

*use every 4~6 months with small purchase

Re: Just curious thought on adding AU

Anonymous — Fri, 24 Sep 2010 16:29:47 GMT

I would want to be on the oldest account that has one of the lowest balances :-)

Re: Adding the minor child as AU ...

Anonymous — Thu, 30 Sep 2010 00:35:56 GMT

       My ccs in order of most often use:
          1. Chase Freedom VISA              08/05' ~    8.6 k
          2. Chase Freedom World MC        09/06' ~    9.0 k
                 *Report Highest of $5232.
          3. Citi Driver's Edge MC            01/08' ~    8.6 k
          4. Discover More                       01/08' ~     2.5 k
                 *09/10' add my daughter as AU
          5. Amex Blue                             12/05' ~     8.0 k
                 *use once a month with small purchase
          6. Chase MC (Wa-Mu Platinum)     02/09' ~    6.0 k
                 *use every 4~6 months with small purchase
          7. NFCU nRewards                     10/99' ~     5.0 k
                       *use every 4~6 months with small purchase
          8. NFCU cashRewards                 05/09' ~    3.0 k
                 *use every 4~6 months with small purchase

The lowest balance is $0 on the five of ccs and carry the balance on three ccs.

I just signed up for 7days Free trial on myFico Score Watch. It gave me ... WOW !! number.

Is this will help my child if I add him on mine? I hope so ...

FICO® Score Summary

Your Equifax FICO® score: 810

On September 27, 2010

Your Equifax FICO® score is great

Your score is well above the average score of U.S. consumers and clearly demonstrates to lenders that you are an exceptional borrower.

What’s helping your FICO® score

1. No missed payments

Number of your accounts with a missed payment 0 accounts

2. Low credit usage

Ratio of your revolving balances to your credit limits 1%

For FICO High Achievers [?], this ratio is 7%, on average

3. Long account history

Your oldest account was opened 10 Years, 11 Months ago

Average age of your accounts 5 years

4. Recent credit card use

You've shown recent use of credit cards.

Inquiries You have no inquiries affecting your FICO® score.

Collections You have no collections.

Date FICO® score

09/27/2010 810

11/21/2007 752

11/15/2007 748

Re: Just curious thought on adding AU

Anonymous — Tue, 28 Sep 2010 16:25:08 GMT

Great scores!

Definitely add him on amex and NFCU

Re: Adding the minor child as AU ...

Anonymous — Thu, 30 Sep 2010 00:36:50 GMT

@Anonymous wrote:
Great scores!

Definitely add him on amex and NFCU

Thanks! Now I need to keep up with it.

Amex ... not sure about this ... there is thread talking negative about AU on it.

NFCU ... as long as they don't reject my request due to my child's age, yes I would love to ...

Re: Adding the minor child as AU ...

Anonymous — Thu, 30 Sep 2010 00:37:35 GMT

I just added my son to my Discover More after I spoke with their rep. Same as last time when I added my daughter, he (rep) only asked my son's name and verified my last four SSN and mailing address. This will be his birthday present! This time, he (rep) let me choose the card design and I choose Tree Frog from Wildlife. *They no longer have one that I got ... Dolphin with half black. But, they added more designs. I requested them to add Pets Bird design for future option. Anyway, he get to use this card when we go out together under my supervision.

Re: Adding the minor child as AU ...

Anonymous — Thu, 30 Sep 2010 00:38:32 GMT

Ok, I just added my son as AU on my Chase Freedom VISA and Citi Driver's Edge at their web site. It said they will contact me within 24 hours regarding this request. I hope they will accept my requests.

Recieved e-mail to secure online acct message from Chase:

Date: 09-29-2010 19:05:37 ET

From: Credit Card Support

Subject: Thank you for your inquiry

Message:

Dear bunnyrabbit,

Your request to add an authorized user to your account is being processed. A new card will be mailed to your address on file, and you should receive the new card
within five to seven business days. If for any reason we are unable to process your request, we will notify you by e-mail within one day.

If you need to speak directly to a Customer Service Representative or have an urgent issue, please call us at the toll-free telephone number on the back of your card.
If you have questions, please click "Send Message" to contact us again. Please do not click "Reply" to contact us.

Sincerely,

Cardmember Services

Re: Adding the minor child as AU ...

Anonymous — Thu, 30 Sep 2010 00:39:07 GMT

I found age qualification for AU on Amex.

Only qualified individuals 15 or over may be approved for an Additional card.

Too bad, I have to wait next year to add him.

I also called in and rep confirmed me that the minimum age to apply his/her own is 21 yrs old. So, he will have 6 yrs of history with Amex after I add him ... age 15 ~ 21 ... and he can get his own easier if I am not wrong.

Re: Adding the minor child as AU ...

Anonymous — Thu, 30 Sep 2010 03:10:28 GMT

Up date information regarding the AU with NFCU.

I just got off from the phone with their rep ... she (rep) asked me what is my primary goal. I told her that I am looking to add my son as AU on to my nRewards to help him have credit history. Then she said there is no age limit to add as AU, and she added him for me. Now, my son is on my three ccs as AU.

The information she asked other than my credit number:

My son's full name and his SSN.
My last eight number on my CUCARD (same as bank's debit card).
Auto Loan and vehicle information.
My phone numbers and mailing address.

To those who is a member of NFCU and has a minor child ....

I would like to encourage you to add him/her to your NFCU credit card(s) for his/her future as long as you maintains your acct in good standing. You do not have to give a cc to your child, keep it in safe place where they can't reach. So, they can't mess your credit.

Now, I am still thinking to add him to rest of my ccs, except Amex, or not.

Re: Adding the minor child as AU ...

AndySoCal — Thu, 30 Sep 2010 04:08:54 GMT

I would suggest strongly you remove the minor as an authorized user. There is a fraud alert a lender on credit report can receive when the credit history shows an account that was extablished before the age of 18. Also, now have the additional worry of identity theft.

Re: Just curious thought on adding AU

Anonymous — Thu, 30 Sep 2010 08:31:56 GMT

@Anonymous wrote:
I was added to my moms Discover via the website. Was added on my cr 5 days later.

gbishere, how old you ware at that time of added?

Re: Just curious thought on adding AU

Anonymous — Thu, 30 Sep 2010 08:46:38 GMT

@Creditaddict wrote:

If you add him before he is 18, when he turns 18 he will already have an established credit history and score without waiting the generally 6 months after obtaining first card to get a fico score... This will help him a ton when looking for his first card. I had a card under my parents since I was 16 and when I turned 18 the first card I got on my birthday was Citi and they gave me 5k!!

@AndySoCal wrote:
I would suggest strongly you remove the minor as an authorized user. There is a fraud alert a lender on credit report can receive when the credit history shows an account that was extablished before the age of 18. Also, now have the additional worry of identity theft.

Andy, could you please explain what kind and how?

Creditaddict, was there any issue?

Re: Adding the minor child as AU ...

Tazman81 — Thu, 30 Sep 2010 12:28:04 GMT

@AndySoCal wrote:
I would suggest strongly you remove the minor as an authorized user. There is a fraud alert a lender on credit report can receive when the credit history shows an account that was extablished before the age of 18. Also, now have the additional worry of identity theft.

+1 --- I thought I heard something about the credit bureaus putting a "policy" or something in place that prevented credit history prior to the age of majority from being considered. I could be wrong on this, or maybe it was just in discussion and nothing was put into place yet. With having just the person's name as AU, I think that is okay because I don't think they report that to the credit bureaus do they? Maybe they do, but how would they know it is being reported on the correct person's credit report without the SSN?

I know there was a lot of talk about parents distroying their children's credit by getting things such as utility bills in their children's names, and that is where I think the discussion stemmed from. But I do also regard something like what Andy is saying is that the credit report can be locked down due to "fraud". Not trying to frighten anyone and this may be incorrect information coming from me, but it is something that I do vaguely remember. Hopefully someone with more recent experience or knowledge can chime in.

Re: Adding the minor child as AU ...

Anonymous — Thu, 30 Sep 2010 19:13:14 GMT

@Tazman81 wrote:
@AndySoCal wrote:
I would suggest strongly you remove the minor as an authorized user. There is a fraud alert a lender on credit report can receive when the credit history shows an account that was extablished before the age of 18. Also, now have the additional worry of identity theft.
+1 --- I thought I heard something about the credit bureaus putting a "policy" or something in place that prevented credit history prior to the age of majority from being considered. I could be wrong on this, or maybe it was just in discussion and nothing was put into place yet. With having just the person's name as AU, I think that is okay because I don't think they report that to the credit bureaus do they? Maybe they do, but how would they know it is being reported on the correct person's credit report without the SSN?

I know there was a lot of talk about parents distroying their children's credit by getting things such as utility bills in their children's names, and that is where I think the discussion stemmed from. But I do also regard something like what Andy is saying is that the credit report can be locked down due to "fraud". Not trying to frighten anyone and this may be incorrect information coming from me, but it is something that I do vaguely remember. Hopefully someone with more recent experience or knowledge can chime in.

Taz, thanks for your help. If you find this information, please post it for us. Thanks.

Re: Adding the minor child as AU ...

Lel — Thu, 30 Sep 2010 19:56:22 GMT

I could be wrong about this, but I don't think there's any harm in a minor being added as an AU with regard to fraud alerts.

Andy, Taz, are you perhaps thinking about cases in which credit is established before someone's social security number was issued? I know that is a problem. So adding a 16 year old, for example, to a card with a 20 year history might be a problem. But if he/she is added to a card with a 5 year history, then this shouldn't cause any complications.

I don't know for certain.

Re: Adding the minor child as AU ...

haulingthescoreup — Thu, 30 Sep 2010 20:04:55 GMT

I'm not sure why this would help your son, other than to give him purchasing power, because he's too young to have a credit report. He's still a minor. He's too young to enter contracts, so having AU cards at his age isn't going to do anything for him at this point.

This is an FAQ on the annualcreditreport-dot-com site. It deals with a report on a child under age 13, but it seems relevant for all minors, including some security info:

How do I request a credit report by mail for a child under 13 years of age?
The credit reporting agencies do not knowingly maintain credit files on minor children. If you suspect that your minor child's information has been used fraudulently, you should contact the credit reporting agencies directly and report the illegal use of your child's information to law enforcement. Please supply each credit reporting agency with your child's complete name, address, date of birth and a copy of the minor child's birth certificate and social security card. Additionally, please provide a copy of your driver's license or other government-issued proof of your identity, which includes your current address, and a current utility bill containing your current address so the credit reporting agencies may promptly respond to your request.

This is from a CreditCards-dot-com webpage about minors and identity theft:

Infants responsible for $600,000 mortgages. Teens unknowingly carrying six credit cards in five states. College students unable to get loans because their credit histories were destroyed before they were born.

This is what happens when a child's identity has been stolen.

Most parents don't consider that someone -- most likely someone they know -- could be opening credit accounts in their child's name. Sometimes the criminals are the parents themselves. And these crimes usually go undiscovered until the child applies for a college loan or a job when they're 18, but by then the damage is done...

I don't think there's anything wrong with making a 14-year-old an AU, other than keeping a really sharp eye on the accounts. But I don't see how it could possibly help a minor's nonexistent credit.

eta to add a fairly critical "don't"