@BronzeTrader wrote:
This is mainly for bridge credit situation. Suppose, my son is 19 years old. I put him as AU first. Then when he gets enough credit, I make him the primary owner and I take my name off. Of course he has to have enough credit etc.
you could do a joint application with him now at many banks, especially Bank of America. It will be a HP for each person own the road when the time comes to separate the account and terminante your responsibility. At that time you could request a HP cli before separating, and then potentially get increases on all your other cards. At least that was the case for me. Same TU pull used to separate account and get increase. And for my former joint account holder, that person was able to get increase on their other cards using the same HP.
But really, that should not be your only resort. Just add your son to your oldest accounts that dont get used much, (Discover, hint hint) and make sure they dont go over 20% utilization). And wait amonth or two for his scores to update and he should be able to apply for some cards in his own name fairly quickly. Look up Monoglot as a good example of the power of leveraging an AU account. Much less hassle and fewer HPs to avoid the joint aspect, but it is a great last resort. Defnitely leave cap1 as a last resort. And amex cards (non cobranded) would not work for this as they are no longer backdated.
