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Just wondering. My parents put me on as an authorized user on their American Express Card when I was still in HS and thus, my "credit history" goes back to 1972 when I was an infant. Lol. Probably has been a help in maintaining my 820 FICO score. 
They did give me the actual card to be used only for emergencies and I never abused the privilege.
In fact, when I got my own cards, I got plenty of them, I never ran up a balance and always treated the credit cards as charge cards to be paid in full each month.
Just wondering if this type of credit "piggy backing" is still allowed or happens. I was thinking of adding both of my kids to one of our older credit cards as authorized without actually giving them the card while this "loop hole" still exists.
A few things I wonder about though. How old must a child be to be an authorized user? I think that I can't even pull up their credit report yet because they are too young. When is it NOT to young to get their credit report. I won't mind a responsible 15 year old to have a card but will we be able to monitor their credit reports?
If I can get a card for them at 15, what's the disadvantage of adding them when they are 11 or 12 and holding on to the actual cards for a few years before letting them have them in case of emergencies (instead of cash)?
Haven't actually tried to do this. Just wondering...
They did give me the actual card to be used only for emergencies and I never abused the privilege. In fact, when I got my own cards, I got plenty of them, I never ran up a balance and always treated the credit cards as charge cards to be paid in full each month.
Just wondering if this type of credit "piggy backing" is still allowed or happens. I was thinking of adding both of my kids to one of our older credit cards as authorized without actually giving them the card while this "loop hole" still exists.
A few things I wonder about though. How old must a child be to be an authorized user? I think that I can't even pull up their credit report yet because they are too young. When is it NOT to young to get their credit report. I won't mind a responsible 15 year old to have a card but will we be able to monitor their credit reports?
If I can get a card for them at 15, what's the disadvantage of adding them when they are 11 or 12 and holding on to the actual cards for a few years before letting them have them in case of emergencies (instead of cash)?
Haven't actually tried to do this. Just wondering...
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