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Author Topic: CC for Children?  (Read 5365 times)

Offline Miracle

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CC for Children?
« on: April 30, 2014, 01:04:24 PM »
Hi,

I searched the site, couldn't find my answer;

Would it be a good idea to build up my children's credit by making them authorized users and spend on that card? I am not talking about 17 year olds, I am talking about 10 year olds...

Does that help them?

TIA
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Offline ckmk47

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Re: CC for Children?
« Reply #1 on: April 30, 2014, 01:16:56 PM »
If you do it on an Amex (and IDK if they let) you get an extra cc #  for small biz sat and such.
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Offline Miracle

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Re: CC for Children?
« Reply #2 on: April 30, 2014, 01:18:13 PM »
Quote from: ckmk47 on April 30, 2014, 01:16:56 PM
If you do it on an Amex (and IDK if they let) you get an extra cc #  for small biz sat and such.
I know about the special offers. I am taking about building credit for them.
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Offline ckmk47

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Re: CC for Children?
« Reply #3 on: April 30, 2014, 01:21:27 PM »
I know that was your question, and my opinion is that it's way too early to make a difference.  It's only benefit that I can see I listed above.
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Offline Super Speed

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Re: CC for Children?
« Reply #4 on: April 30, 2014, 02:58:57 PM »

Quote from: Miracle on April 30, 2014, 01:04:24 PM
Hi,

I searched the site, couldn't find my answer;

Would it be a good idea to build up my children's credit by making them authorized users and spend on that card? I am not talking about 17 year olds, I am talking about 10 year olds...

Does that help them?

TIA
Amex won't let if you try adding the SS# right away as you need to be 16 to be an AU. It may be possible to add them without giving their social and b-day and adding that later? (I never tried that yet)
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Offline Super Speed

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Re: CC for Children?
« Reply #5 on: April 30, 2014, 02:59:50 PM »

Quote from: ckmk47 on April 30, 2014, 01:21:27 PM
I know that was your question, and my opinion is that it's way too early to make a difference.  It's only benefit that I can see I listed above.
-1 Why is it too early? When they turn 18 they'll have a bunch of years of credit history.
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Offline CountValentine

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Re: CC for Children?
« Reply #6 on: April 30, 2014, 03:27:08 PM »
You can get someone instant credit in a matter of months. No need to start early.
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Offline Super Speed

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Re: CC for Children?
« Reply #7 on: April 30, 2014, 03:28:54 PM »

Quote from: CountValentine on April 30, 2014, 03:27:08 PM
You can get someone instant credit in a matter of months. No need to start early.
Who knows what will be then?
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Offline Joe4007

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Re: CC for Children?
« Reply #8 on: April 30, 2014, 03:28:58 PM »
Quote from: CountValentine on April 30, 2014, 03:27:08 PM
You can get someone instant credit in a matter of months. No need to start early.
Please elaborate...
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Offline CountValentine

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Re: CC for Children?
« Reply #9 on: April 30, 2014, 03:30:31 PM »
Quote from: Super Speed on April 30, 2014, 03:28:54 PM
Who knows what will be then?
Valid point.
Quote from: Joe4007 on April 30, 2014, 03:28:58 PM
Please elaborate...
Nothing to elaborate. Just using AU's.
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Offline Joe4007

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Re: CC for Children?
« Reply #10 on: April 30, 2014, 03:32:50 PM »
Quote from: CountValentine on April 30, 2014, 03:30:31 PM
Nothing to elaborate. Just using AU's.
But that won't get them a long history.
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Offline CountValentine

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Re: CC for Children?
« Reply #11 on: April 30, 2014, 03:37:56 PM »
Quote from: Joe4007 on April 30, 2014, 03:32:50 PM
But that won't get them a long history.
If you add someone to say a Citi card with a 30 year + history then they get that history also.
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Offline Joe4007

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Re: CC for Children?
« Reply #12 on: April 30, 2014, 03:39:52 PM »
Quote from: CountValentine on April 30, 2014, 03:37:56 PM
If you add someone to say a Citi card with a 30 year + history then they get that history also.
Good to know. So only Amex stopped backdating?
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Offline CountValentine

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Re: CC for Children?
« Reply #13 on: April 30, 2014, 03:42:55 PM »
Quote from: Joe4007 on April 30, 2014, 03:39:52 PM
So only Amex stopped backdating?
It seems that way but have seen conflicting reports.
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Offline rots5

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Re: CC for Children?
« Reply #14 on: April 30, 2014, 03:50:42 PM »
I got my son an amex bc au card.
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Offline Miracle

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Re: CC for Children?
« Reply #15 on: May 01, 2014, 07:18:04 AM »
Quote from: rots5 on April 30, 2014, 03:50:42 PM
I got my son an amex bc au card.
How old is your son?
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Offline rots5

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Re: CC for Children?
« Reply #16 on: May 01, 2014, 07:19:32 AM »
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Offline Miracle

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Re: CC for Children?
« Reply #17 on: May 01, 2014, 07:30:05 AM »
Quote from: rots5 on May 01, 2014, 07:19:32 AM
One quick Google search cane out with this. :D

http://forums.dansdeals.com/index.php?topic=20694.0;nowap
You made your child an AU and he's only 2? :)
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Offline rots5

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Re: CC for Children?
« Reply #18 on: May 01, 2014, 07:32:02 AM »
Quote from: Miracle on May 01, 2014, 07:30:05 AM
You made your child an AU and he's only 2? :)
1.5 to be a bit more precise (still don't pay for a seat for him yet) lol.

I did. I wanted to get an au card. It was just the easiest
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Offline Miracle

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Re: CC for Children?
« Reply #19 on: May 01, 2014, 07:33:17 AM »
Quote from: rots5 on May 01, 2014, 07:32:02 AM
1.5 to be a bit more precise (still don't pay for a seat for him yet) lol.

I did. I wanted to get an au card. It was just the easiest
Kudos :)
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