I can do this at age 14? Interesting. I always assumed you had to be 18 to add an authorized user to a credit card.

Would she get credit for my past or only the history one she becomes an AU?

We do speak with her a lot about money. She currently has a checking account with a debit card attached that she uses. She also has two savings accounts - one we fund that she never touches and one she funds.

She gets little babysitting gigs here and there, etc, so we are teaching her about using an account, saving money, etc.

We have the same set up for our 11 year old but we aren't as far along with her yet.

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Posted by LSUFanHouston

NOLA

Member since Jul 2009

40253 posts

Posted on 6/16/22 at 10:06 am to Jag_Warrior

quote:
Nope, definitely not that kind of guy. I wasn’t joking when I told him long ago that I’d have him as my CPA if he lived closer to me. Easily one of the most solid and knowledgeable posters that’s been on this board since I arrived.

That's very kind of you to say. I try to be honest and clear here... just like I am with our clients. I've learned a lot from people on this board so I try to contribute where I can.

quote:
I agree with others who’ve said that his current score is good enough for what he’s seeking to do.

That's good to hear. Like I said earlier... playing the points game was never really a big deal to me.

There's value in using credit cards, in my mind, for certain things: travel especially international, online purchases, renting a car, etc.

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Posted by DanMitchell

Member since Sep 2023

5 posts

Posted on 9/26/23 at 7:46 am to LSUFanHouston

When you add your child as an authorized user, they may benefit from the credit history associated with that card, including its positive payment history. This can potentially have a positive impact on their credit score when they eventually have their credit report. However, it's important to keep in mind that not all credit card issuers report authorized user information to the credit bureaus. Therefore, it's a good idea to check with your credit card issuer to confirm their policy on reporting authorized user activity.

In your daughter's case, if you add her as an authorized user to one of your credit cards, she may start building credit history based on that card's positive history. It's a helpful way to introduce her to the world of credit and responsible card usage.

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