@SoCalMama wrote:
I just added my son as an authorized user on a card with a huge credit line. He already got his own credit card from a local bank when he turned 18, since he had an account there with a debit card. I guess if he has a job and a credit score, he could try it? It’s a one time deal though.
I put my son and my daughter on my cc with a huge credit line when they were 15 and 17 (one year ago). I also opened checking and savings accounts for my 3 oldest a year ago (ages 13, 15, 17) with their allowance going into their savings to keep their accounts "free." Their accounts are also linked to mine, so I can monitor things.
Now my son has turned 18, gotten a little summer job, and has his paychecks go into his checking account. He was just offered his first cc, as well. Amazingly, with this cc, I saw his credit score and there is nothing there. He has no credit at all built up from the year of being an AU.
When I did make them AUs, I asked at the bank, and was told that being an AU WOULD affect their credit (negatively or positively)….but he still has NO credit...
I did have him use his cc to purchase his work shoes and work gloves. I then took the cc and put it in our safe deposit box with the other cards, lol
I will coach him each month on payments, so he will have a credit score soon