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Should I Add My Child as an Authorized User on Credit Cards?

If you care about the financial future of your children, then you know how important it is to begin helping them build good credit from an early age.  One of the best and safest ways to do that is by adding them as authorized users on one of your oldest credit card accounts.

As an authorized user, your child (even under the age of 18) can begin building positive credit history without doing anything.  This is because as you use your credit card responsibly and pay your bills on time, both your new and old payment history will eventually show up on her credit reports as well.  You don't even need to give your children access to the credit card itself, as they will still benefit from your payment history as an authorized user.

If you're interested in taking the next step, hop online or call up your credit card company and you should be able to add a new authorized user in just a few minutes.  It's really that easy, especially if your credit card issuer allows the process to be completed online.  However, if you do decide to give your credit card to your child and allow them to make purchases on it, it's important to remember that as the primary account holder YOU are the one responsible for all charges made on the card.


on Mon, 2016-02-22 13:45