Reply to 18 year old credit card question

Forum Index » Adult Children

Reply to "18 year old credit card question"

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous][quote=Anonymous]Most people I know make their kids authorized users on their account in the beginning.  They will benefit from your credit rating (like my 20 year olds credit report says she has had a card for 24 years based on ours).  Yes you do have to trust them to an extent.  My kids knew when to use it and when they should be covering the costs.

My now junior just got her own card.  I will keep her on mine until she graduates as we cover her groceries and travel still.  She had no issue getting a student card from Cap One.  She also considered discover.[/quote]

All of ours are on our account as authorized users and have been since they've been about 15.  Oldest is 20 and will be on it until she graduates.  We did it so they would have great credit.  The 20 year old has a great credit score.  Her only "ding" is length of credit history otherwise she would have a perfect credit score.  She will get her own card eventually but we are paying for everything until she graduates so I'm ok with her on it until then.

You can put a spending limit on each card if you're really concerned.  We had to do that at one point in the young teens when they were just learning.  The good thing is you can also see what they are spending.  [/quote]

Options

	Disable HTML in this message
	Disable BB Code in this message
	Disable smilies in this message

Review message

Search Recent Topics Hottest Topics