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I have a ~16 month old daughter, and I briefly considered adding her as an authorized user to one of my Chase credit cards. I thought about adding her to help her establish credit history with Chase. Chase guidelines state there’s no age minimum for adding an authorized user to credit cards.
But adding her as an American Express authorized user, on the other hand, requires that kids be 13 years old. Adding an authorized user to the Chase Sapphire Reserve® carries a $75 annual fee for the additional credit card, but there are other credit cards that don’t charge a fee.
Should You Add Your Child as an Authorized User to Your Chase Credit Card?
I’ll be waiting until my daughter is a little bit older to add her as an authorized user. This is mainly so that I don’t have to manage another account right now, and because she’s too young to understand the purpose of credit cards and how to responsibly use them.
If you have kids, then adding them as authorized users helps them to start building their credit history from a young age. You don’t have to give your child the credit card — you can be the guardian of it until they are mature enough to be trusted with it.
And you can use your credit cards as a powerful, real life way to help teach children about how money works and how to manage it. I believe those lessons are important to learn and practice early in life.
Give Your Child’s Credit a Head Start by Adding Them as Authorized Users
When my daughter is older, I’ll start teaching her about budgets and how to maximize the points earned from credit cards. Learning financial lessons early in life helps adults be more responsible with money.
It also makes money a family topic of discussion rather than being the sole responsibility of the parent(s). Being more transparent with your kids can teach them valuable decision-making skills that can last a lifetime!
Team member Jasmin’s girls have been authorized users on her Chase Sapphire Preferred® Card for a few years. She got her kids credit cards mainly to start building their credit history, so that when they turn 18 and can apply for their own credit cards, they wont be starting from a blank slate.
After establishing credit history as an authorized user, your child can apply for their own travel credit card when they turn 18. My top pick is the Chase Sapphire Preferred® Card.
What are your thoughts on making your kids authorized users? At what age do you think it’s best?