Why YSK: Some banks have no minimum age for authorized users, and report credit usage for them. If you have a credit card you don’t use much, you can add your kids as authorized users, set up a reoccurring payment from the card and an automatic payment to the card, and then forget about it. Your kid could become an adult with an already-maxed credit score.

  • stallmer@lemmy.one
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    1 year ago

    My parents did this when I was in college, and I used the card to pay for tuition and books. Yes, I was incredibly lucky to have my parents pay for everything.

    Because I was an authorized user on my dad’s Amex he had had for decades, my credit history is technically older than I am.

    As OP mentioned, this helped my credit score a lot. If you’re able to do this, it’s a huge help down the line.