Minimum Age for Credit Card Authorized Users

Building credit is a crucial financial milestone for a sound financial future, but it can be challenging for young people looking to get their first credit card. One straightforward method to help your child start building a credit history is by designating them as authorized users on one of your existing credit card accounts.

How Old Do Authorized Users Have to Be for Credit Cards?

Each card provider has slightly different procedures and policies regarding authorized user age limits for this process. So, we have compiled a quick guide on the different rules for the major US credit cards.

Read below to discover everything you need to know about adding your children as authorized users to your credit card account, including the minimum age for authorized users on credit cards, the associated costs, and more details.

What is a Credit Card Authorized User?

For those unfamiliar with the concept of credit card authorized users, it involves adding an individual, whether it's a family member, partner, or friend, to your current credit card account. This action grants them their physical card, which they can use to make purchases on your behalf. However, you're not obligated to give them the card or allow them to make actual purchases.

Even if you don't intend for your children to utilize the credit card, this approach serves as a simple means to help them establish a favorable credit history and credit score. Provided that your account maintains a good standing, this method will allow them to begin to develop a record of credit and repayments that credit providers can later check when they apply for their own card.

It's crucial to note that if your account carries derogatory marks on your credit report, these will also affect the authorized user's credit.

How Old do Authorized Users Have to Be for Major Credit Cards?

Each credit card provider has its minimum age criteria for authorized users. Here's a comprehensive breakdown of credit card authorized user age limits:

· American Express: The minimum age requirement is 13 years old. The bank collects full name, date of birth, and Social Security number.

· Bank of America: Bank of America does not specify a minimum age requirement for credit card-authorized users. The bank collects full name, date of birth, and Social Security number.

· Citi Bank: Citi Bank also does not specify a minimum age requirement for credit card-authorized users. The bank collects full name and date of birth.

· Capital One: Capital One does not have a minimum age requirement for credit card-authorized users. The bank collects full name, date of birth, and Social Security number.

· Chase: Chase does not have a minimum age requirement for credit card-authorized users. The bank collects full name and date of birth.

· Discover: Discover sets the minimum age requirement at 15 years old. The bank collects full name, date of birth, and Social Security number.

· Wells Fargo: Wells Fargo does not specify a minimum age requirement for credit card-authorized users. The bank collects full name and date of birth.

· U.S. Bank: U.S. Bank requires authorized users to be at least 16 years old. The bank collects full name, date of birth, and Social Security number.

As the breakdown above shows, certain banks like Bank of America, Citi, Capital One, Chase, and Wells Fargo do not enforce any age prerequisites for authorized credit card users. In contrast, American Express, Discover, and U.S. Bank set specific age requirements.

Moreover, the information required for adding an authorized user varies among banks. At a minimum, you will need to furnish the authorized user's full name and birth date. Some banks may additionally request the authorized user's Social Security number as part of the process.

How to Add Someone Who Meets the Minimum Age for Authorized User on Credit Card

Adding your child or another individual as an authorized user to your credit card account is a straightforward process, and most banks offer convenient online methods for doing so. However, you also have the option to call the customer service number on the back of your card to assist you in adding an authorized user.

How to Add an Authorized User

1. Contact Your Credit Card Issuer: Contact your credit card issuer to inquire about their specific process for adding an authorized user.
2. Provide Required Information: You may need to provide the authorized user's full name, date of birth, and Social Security number.
3. Wait for the Card: Once the authorized user is added, they will receive a physical credit card in the mail.

How to Remove an Authorized User on Your Credit Card?

If, at any point, you decide to remove your child as an authorized user from your credit card account, the process is generally as simple as the initial addition. You can manage this online through your account or contact the customer service number on the back of your card, where a representative will guide you through the steps to complete the removal process.

This user-friendly approach allows you to easily control and oversee your child's access to your credit card while helping them establish a credit history, all with the flexibility to make adjustments as needed.

Do You Need to Pay to Add an Authorized User?

The cost of adding an authorized user to your credit card can vary depending on the specific card you hold. If you possess a credit card that does not impose an annual fee, you typically should not incur any additional costs when adding an authorized user.

Adding an authorized user to your credit card can be a great way to help someone, especially a young adult, build a credit history. However, it’s important to understand the implications and requirements before taking this step.

Benefits of Adding an Authorized User

• Credit History Building: By adding an authorized user to your account, you can help them establish a credit history, which can be beneficial when they apply for their own credit cards or loans.
• Improved Credit Score: Responsible credit usage by the authorized user can positively impact the primary account holder’s credit score.

Potential Drawbacks

• Negative Impact on Credit Score: If the authorized user makes late payments or defaults on their credit obligations, it could negatively impact the primary account holder’s credit score.
• Account Liability: The primary account holder is ultimately responsible for all charges made by the authorized user.

Alternative Ways to Build Credit

If adding an authorized user isn’t feasible or desirable, consider these alternative methods for building credit:

• Secured Credit Cards: These cards require a security deposit, which serves as collateral. By making timely payments, you can build a positive credit history.
• Credit-Builder Loans: These loans are designed to help individuals with poor or no credit history. By making regular payments, you can improve your credit score.
• Becoming an Authorized User on a Parent or Guardian's Account: This can be a great way to start building credit, but it's important to be responsible and avoid excessive spending.

By understanding the benefits, drawbacks, and alternative methods, you can make an informed decision about whether adding an authorized user is the right choice for you or someone you know.

Takeaway: What is the Minimum Age for Authorized Users on Credit Cards?

Helping your child establish a solid credit history is a significant step toward securing their financial future. Adding them as an authorized user is a simple and effective way to kickstart this process, even if they don't actually use the card for purchases. By doing so, they can begin to build a positive credit history, which can be crucial when they eventually apply for their own credit cards or loans.

As you can see from our breakdown of "How Old Do Authorized Users Have to Be for Credit Cards?" above, the authorized user age limit varies from card to card.

If you aim to assist your child in building credit, explore credit cards that do not impose fees for adding authorized users, ensuring a cost-effective way to help them on their credit-building journey.