When should someone get their first credit card?

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Oct 24, 2024
2:48:25pm

It's A Bowling Ball All-American

When should someone get their first credit card?

We have our oldest daughter on a mission - she's 20 and get's home this winter. She's done just fine with her debit card so far. But at some point they should probably start establishing some credit.

Any thoughts or advice from the wise CB Borg collective?

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It's A Bowling Ball

Previous username: hxmCougar2000
Bio page: It's A Bowling Ball
Joined: Oct 20, 2006
Last login: Oct 24, 2024
Total posts: 29,552 (64 FO)

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Messages

Author

Time

When should someone get their first credit card?

It's A Bowling Ball

2:48pm

now.

molodyets

2:50pm

I don’t know if this is wise or not but my in laws put my wife as an authorized

PKCoug

2:51pm

That's a dangerous game.

OnEMoReTrY

2:51pm

You don’t have to give someone a card just because they are an authorized user.

cougsareforreal

2:52pm

That's not the dangerous part. What if you're not as responsible as you think

OnEMoReTrY

3:03pm

Authorized users can remove the account if it pulls their credit down

chilawcoug

3:06pm

Assuming they're in the know, which they wouldn't be.

OnEMoReTrY

3:09pm

Well if they’re willing to not tell, then being an authorized user is the least

chilawcoug

3:11pm

You can also dispute the account if you didn’t have payment obligations

chilawcoug

3:14pm

Only dangerous if you don’t teach your children responsibility

4thand19

2:54pm

Hence I said I don’t know if it’s wise. Would totally depend on how much trust

PKCoug

2:54pm

This is what we do, and it's been really helpful to them.

runnincoug

2:59pm

Sometimes you can even do this later and it will add the account’s entire credit

chilawcoug

3:01pm

Age 12-14 as an authorized user for someone that has perfect credit.

mulletino

2:56pm

Honestly, would be great to open several cards for her as avg age of credit is

4thand19

2:56pm

Our kids get them when they turn 16. Need them for gas/emergencies and it helps to start building credit. We also

HarlemCoug

3:04pm

Authorized user doesn't build credit as well as their own card.

ryebrye

3:06pm

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