topic Re: What will be my childs credit score? in General Credit Topics

What will be my childs credit score?

Anonymous — Tue, 21 Apr 2020 16:28:59 GMT

So i recently added my 17 year old as an authorized user for 3 of my credit cards. All have high credit limits $20k+, no lates, opened 4+ years ago, and have a zero or near zero balance.

Has anyone had experience doing this and if so what was their child's credit score when they turned 18?

Re: What will be my childs credit score?

AllZero — Tue, 21 Apr 2020 16:47:04 GMT

@Anonymous wrote:
So i recently added my 17 year old as an authorized user for 3 of my credit cards. All have high credit limits $20k+, no lates, opened 4+ years ago, and have a zero or near zero balance.

Has anyone had experience doing this and if so what was their child's credit score when they turned 18?

My guesstimate mid 700s?

Re: What will be my childs credit score?

CashBackQueen — Wed, 22 Apr 2020 00:46:27 GMT

Mid 700s is correct in my experience.

ETA: I recently added someone with absolutely no credit to one of my cards (a 2 y/o account) and with that being the only thing reporting, their FICO was 744, so yes, it is very possible.

Re: What will be my childs credit score?

Anonymous — Tue, 21 Apr 2020 17:40:09 GMT

Low 700s ... meaning most likely around 710 - 720.

An individual totally new to credit starts out at roughly 670, i.e. a "Good" credit rating. How they progress from their depends on their credit activities, and any enhancements such as authorized user accounts. In my own experience I added my daughter as an Authorized User to an 8 yr old Capital One card and a 25 yr old Amex card. Last summer - just before her 19th birthday - she pulled her credit scores for the first time and they were in the 710-270 range. Her credit report also contained a student loan from her freshman year of college that was completely paid off in addition to the AU accounts

If your child is only an authorized user, and has no credit activity of their own, its highly unlikely that they can have a mid-700s score.

Re: What will be my childs credit score?

Duke_Nukem — Tue, 21 Apr 2020 19:24:06 GMT

Did something very similar to your situation nearly 2 years ago for my (at that time) 18 and 21 yo. We added them as AU on 4 accounts, average age of around 4 years at that time. When all accounts were basically AZEO (by accident because we didn't know about AZEO until later), both were in the 780-790's until they applied for their own cards.

When we had non-AZEO on their AU cards and one @ a 28% UTI, their scores were in the 750-770 range.

Re: What will be my childs credit score?

Gmood1 — Tue, 21 Apr 2020 22:37:00 GMT

I did the same for kids and 18yr old nephew most recently. He had zero credit. Added him to an almost 12 year and a 4 year old card. His actually scores below 2 months after becoming an AU.

Re: What will be my childs credit score?

AllZero — Tue, 21 Apr 2020 22:37:55 GMT

That EX 2 score is insane!

Re: What will be my childs credit score?

Gmood1 — Tue, 21 Apr 2020 22:40:16 GMT

@AllZero wrote:
That EX 2 score is insane!

@AllZero

Yeah he blew the doors off !!! lol

His first app with Navy Fed yielded a $25K SL!!

He was still 18 yrs old!

Re: What will be my childs credit score?

AllZero — Tue, 21 Apr 2020 22:44:59 GMT

@Gmood1 wrote:
@AllZero wrote:
That EX 2 score is insane!
@AllZero
Yeah he blew the doors off !!! lol
His first app with Navy Fed yielded a $25K SL!!
He was still 18 yrs old!

I remember reading your approval post. You did a great job for him! Excellent work.

Re: What will be my childs credit score?

Anonymous — Wed, 22 Apr 2020 00:13:21 GMT

What a nice parent!