If you have excellent credit yourself, you can consider adding your older teenage
kids as authorized users on your credit cards.
For years, parents have listed
their kids as authorized users on their own cards to help the kids build a positive credit history.
Add
your kids as authorized users.
Not exact matches
There are lots of ways to get your
kids started with their first card, whether it's a secured card on their own or
as an
authorized user on your card.
Your
kids» scores will benefit
as long
as your issuer reports
authorized user activity to the credit bureaus every month.
If you want your
kids to have a great FICO score and you have a great FICO score in the highest range, then add them to your credit card account
as an
authorized user.
A mistake most parents make to help their
kids build credit is they co-sign for them on new loans and new credit cards when in reality they would do you a bigger favor if they actually understood how
authorized users being added worked,
as highlighted below.
Creating a credit history for
kids under 10 is too early — Wait until kids hit their teens to add them as authorized users to your card... (See K
kids under 10 is too early — Wait until
kids hit their teens to add them as authorized users to your card... (See K
kids hit their teens to add them
as authorized users to your card... (See
KidsKids)
How to help
kids build credit before age 18 — Adding a child
as an
authorized user to a parent's card is easy to do... (See Build)
Video: 3 ways to help your
kids build credit — Add a child as an authorized user, establish a checking account, and help them learn about money... (See Kids and cre
kids build credit — Add a child
as an
authorized user, establish a checking account, and help them learn about money... (See
Kids and cre
Kids and credit)