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Weekly Tips

Should You Add an Authorized User?

Are you thinking about adding an authorized user to one of your credit cards? If so, here are a few things to keep in mind before pulling the trigger.

Make sure you choose the person you add very carefully. While an authorized user can make purchases with your card, they are not ultimately responsible for the charges. You're the only one that will get stuck with the bill if unwanted charges are racked up behind your back.

Another option is to add the authorized user but never actually give them access to your account information or the credit card itself. Taking this approach allows you to help the individual piggyback off your good credit while making sure you retain complete control over your account.

on Thu, 2011-06-02 17:00