Most credit card issuers allow children under 18 years to be added as authorized users on a credit card and some don't have any age restrictions whatsoever. Adding your kids as authorized users on your credit cards may seem counterintuitive to the concept of financial independence.
Depending on your credit card issuer, you can add your child as an authorized user on your account as long as they meet the issuer's requirements. Before doing so, you'll want to make sure your child has a good understanding of how credit and debt repayment work.
You can add your child as an authorized user and not actually share the card with them if you think they are not ready for the responsibility. You also may be able to set spending limits for your authorized user. Next, some cards charge an annual fee for adding authorized users (which can be hefty with premium cards).
Usually the minimum age requirement to add an authorized user to a credit card is at least 13. However, there are several credit card issuers that don't note a specific minimum age.
Making your child an authorized user on your credit card can help them learn to responsibly use money and build up their credit. By setting up an authorized user relationship, your child has the opportunity to start building a positive credit history even if they are still too young to open a credit card of their own.
Strictly speaking, parents cannot open a credit card account for their minor children. Only a person age 18 and over can enter into a legally binding contract, which includes applying for a credit card as the primary account holder.
You will need to provide the person's full name, date of birth and address to add them as an authorized user. A primary cardholder can make anyone a Credit One authorized user, as long as they are at least 15 years old. There's no limit to the number of authorized users you can add to an account.
Authorized Users can only be added if your account is in good standing at the time the request is processed. Authorized Users with the Family Card Option must be at least 14 years of age and a resident of Canada.
Most credit card issuers allow children under 18 years to be added as authorized users on a credit card and some don't have any age restrictions whatsoever. Adding your kids as authorized users on your credit cards may seem counterintuitive to the concept of financial independence.
The good news is your child doesn't have to be 18 to start building credit. Get on the path to establishing credit for your child and help them secure a strong financial future.
The action of adding your child to your existing credit card account won't have any impact on your credit score. Nothing on your credit report indicates whether your credit card is used by authorized users or just the primary account holder. Yet your credit could be impacted if your child makes charges on the account.
Most teen debit cards are designed as mobile-first applications, with the ability to sign up online. If the teen is under 18 years of age, there typically needs to be a joint account holder (parent or guardian) who is at least 18 years old to sign up for an account.
Each card issuer has its own guidelines. Some cards may allow you to add just four authorized users, while others may allow nine or even more. Contact your credit card issuer for details specific to your card.
While there are no age minimums to be an authorized user, it may be a few years until your child is ready or able to apply for their own credit card.
Having access to a credit card can help a minor develop healthy spending habits and begin to build a credit history. Adding your teen as an authorized user on one of your accounts can help them start building credit. You can explain why good credit is important with real-life examples.
What is a joint credit card? A joint credit card works just like a traditional credit card, except the account is shared by two people—each cardholder gets their own card that's linked to the account.
Checking the Credit of a Child Who Is 13 or Older
By visiting AnnualCreditReport.com – the only website federally authorized to provide credit reports from Experian, Equifax and TransUnion for free – your child can enter his or her personal information to receive a copy of each report.
What Does Adding an Authorized User to a Credit Card Do? When a primary cardholder adds an authorized user to a card, that account will appear on the user's credit report and can help that person build or restore credit if the account is managed well.
No, when someone dies owing a debt, the debt does not go away. Generally, the deceased person's estate is responsible for paying any unpaid debts. When a person dies, their assets pass to their estate.
Although you can't apply for a credit card in your name while you're under 18, you can consider the following options: Ask to be an additional cardholder on your parents' credit card. If you're at least 16 years of age, your parents may add you as a supplementary cardholder to their credit card account.
The American Express authorized user age requirement is 13. Primary Amex cardholders can make anybody aged 13 or older an authorized user on an American Express credit card account, provided the additional cardholder has never had a defaulted account with American Express.
As an Additional Card Member, your child can have his or her own login to not only review the account, but also to make payments.