Yes, you can add your teenager to your credit card as an authorized user, but the teen’s age will matter to some credit card companies. American Express and Discover require authorized users to be at least 15 years old, for example, while U.S. Bank requires them to be 16. But lots of credit card companies do not have an age requirement for authorized users, including Chase, Bank of America, Citibank, Capital One, Wells Fargo, USAA, Navy Federal Credit Union, PNC Bank, TD Bank, and First National.
Adding your teenager to your credit card account can help both you and your teenager, as long as you manage the account responsibly. Your teen will begin building credit history, even if you never hand them a card. And if you do decide to give them a card, they could learn some great early credit lessons – with your tutelage, of course. Plus, if you add your teenager to a rewards credit card, whatever the teenager spends will add to your rewards.
That said, there are plenty of ways for this scenario to go badly, too. If you give your teenager a credit card, there’s a real possibility that they’ll use it to buy things you’d never authorize them to buy, and you’ll be on the hook for the charges. Or, if you don’t use your account responsibly, all the negative information added to your credit report will also end up on your teenager’s report if they’re an authorized user. The damage doesn’t have to be permanent, though. Authorized users have the right to request removal from the account and dispute the negative information, which will remove that information from their credit report.
Plus, if you make your payments on time and make sure your teenager knows what the card should (and shouldn’t) be used for, you’ll likely avoid the pitfalls.
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