topic Re: Authorized User for teens in Credit Cards

Authorized User for teens

TraumaMomm2 — Wed, 03 Sep 2014 18:23:32 GMT

I've read that adding the teenagers as authorized users to a card (or cards) can help them get credit when they finally apply for their own at 18 or so. My oldest (almost 21) is already establishing his own credit (auto loan, credit card, etc). But, I was wondering-- how young is too young? Or does it matter? My next child is almost 15. Is it too early to add her as a user to one of our cards? Will it help more? Or will it have the same effect if we add her when she's closer to 18?

Re: Authorized User for teens

WolfMan — Wed, 03 Sep 2014 18:27:47 GMT

I added my son when he turned 17 to my AMEX. He's now 18 and in college, Very responsible, Never uses it unless he asks first. When he turns 19 he plans to app for his own student card to start building a profile. Hopefully I tought him well.

Re: Authorized User for teens

Middleswarth — Wed, 03 Sep 2014 18:42:10 GMT

I added my son to one of my cards when he was 16. At 18 he was approved for a BCE from American Express ($1500 CL- now $2500).

I'm not sure if it helped but my guess is it did. He got the pre-approval from Amex in the mail - I doubt they would have sent it without the AU records on his credit reports.

Re: Authorized User for teens

Creditaddict — Wed, 03 Sep 2014 18:46:27 GMT

FOR SURE HELPS!

I would add them to at least 1 and if you have Amex FOR SURE THEM as soon as you can as it locks in member date for child!

Re: Authorized User for teens

TraumaMomm2 — Wed, 03 Sep 2014 18:59:15 GMT

No Amex YET... but it certainly is a goal of mine.

We have:
Barclays (Sallie Mae, Rewards, and Apple Visa)

Capital One (Quicksilver and Sony)
Discover It
Navy Federal (MC and Visa)
And about a billion store cards (ok, a billion might be a SLIGHT exaggeration)

Re: Authorized User for teens

Turbobuick — Wed, 03 Sep 2014 20:23:10 GMT

I can remember being 15-16 and sent school clothes shopping with my dads cc. No, I wasn't an AU. Simpler times I suppose.