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College and University Discussion
Reply to "Adding 18 year old as authorized user on credit card - yay or nay- for building their credit score"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]For helping our 18 year old to build a credit score is it better to add them as an authorized user on my cc or have them get their own card?[/quote] It helps but give one with smaller limit and not one you use to pay auto payments so if they lose it, its not a headache. Do turn on notifications for transactions, it gives you an insight on their life choices. Don't intervene unless there is a big red flag.[/quote] You can set up separate spending limits per kid on your account. We started ours out with small limits ($300) when they were young teens and have increased it now that they are in college. We can also view our statement by person so it helps to see what they're spending. I turned off notifications because they became really annoying but I was never really worried about them going crazy with the cards-and they didn't. [/quote]
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