@Anonymous wrote:
@Anonymous wrote:I added my 15 year old as an authorized user to several of my credit cards. I am NOT giving her any cards, that would be stupid, but I want these to report to the credit bureau's so when she turns 18 she will have positive lines of credit reporting for her. I have read differing opinions on whether or not they will actually report or not, but I thought it would be worth a shot. Opinions?
I think it can be good and bad. Good because you are helping her establish something that usually takes many years to do. Bad because she may not appreciate it and could squander her good credit history as soon as she has the chance. I think it really depends on her maturity and level of understanding of credit. You know her best. Do what you think will work for her.
I wish I had had a little leg up on the credit game, but my parents were a credit nightmare and couldn't have helped me even if they wanted to. Seeing them struggle I think made me appreciate credit more. I made my own mistakes in life but have worked hard to fix them and appreciate what I have earned. I think that I will help my son get a good start, as long as he demonstrates the understanding and ability to manage good credit when the time comes.
My line of thinking is along these sames lines also.
