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re: Son finds out his mom messed up his credit and now he can't get a house
Posted on 4/16/24 at 6:56 am to TigerMonkey
Posted on 4/16/24 at 6:56 am to TigerMonkey
quote:
My Dad did the opposite. Took out credit cards in our names and built our credit up before we knew what credit was. I’ve maintained a near perfect credit score my entire adult life.
Is the same thing accomplished by having them as an "authorized user" of a credit card and just not hand over the card to them?
2
Posted on 4/16/24 at 7:03 am to bad93ex
quote:
Is the same thing accomplished by having them as an "authorized user" of a credit card and just not hand over the card to them?
I’m not sure. I just know when I got my drivers license he handed me a Visa card with my name on it. It was only to be used for Gas, and anything they tell me to buy. He said he had it for a while, also had one for my little sister, and would occasionally make purchases/pay them off in our names. This was in the 90’s, and I don’t have kids, so no idea what it’s like now.
Posted on 4/16/24 at 11:17 am to bad93ex
quote:
Is the same thing accomplished by having them as an "authorized user" of a credit card and just not hand over the card to them?
You should do both. Authorized user first to start the credit and then when they’re an older teenager get it in their name alone. They should have the credit by then to have an account in their name alone
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