About Credit / Debt Management: Is Your Kid Ready to Be an Authorized User?

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Credit / Debt Management Credit / Debt Management Repair Credit Pay Off Debt Learn Credit From LaToya Irby, your Guide to Credit / Debt Management All those dreaded questions from your teens (sometimes even preteens), "Mom can I take the car?" "Dad can I go out with my friends? Alone?" "Can I use your credit card?" When is the right time to say yes. Making Your Child an Authorized User Adding your child as an authorized user can provide some peace of mind when your kid starts venturing out without you. You know they'll always have a source of funds in an emergency. How do you know when your child is ready? Search Related Topics:  your kids and their credit  adding authorized users  student credit cards Authorized User vs. Joint Account Holder Note there's a difference between adding your child to an existing credit card (authorized user) and applying for a brand new credit card with your child as a co-applicant (joint cardholder). If you want to maintain control, the authorized user route is best. Search Related Topics:  adding authorized users  joint credit cards  sharing a credit card Help Your Child Build Good Credit The other benefit of adding your child as an authorized user is he (or she) can get starting building their credit score. But, remember parents, how your child uses the credit card affects your credit too. Search Related Topics:  student credit cards  building good credit  your kids and their credit 8 Lessons to Teach Your Child About Credit It's important to teach your children about credit cards, even if you don't add them to your cards. That way, they're prepared to handle cards properly should they choose to open one once they become adults. Search Related Topics:  building good credit  getting your first credit card  joint credit cards Related Searches Bad Debt Credit Card Fix Your Credit Credit Scores Rebuild Credit Credit Repair Featured Articles Your Rights WIth Credit Cards Should You Pay an Old Collection? 8 States With Free Credit Report Laws The Statute of Limitations on Debt 7 Steps to Getting Out of Debt 7 Ways to Build Good Credit More from About.com Run Your First 5K Even couch potatoes can be ready for a 5K with just a couple months of training. Read more...> Help! I'm Too Busy Time and stress management tips to help you feel as though you have more time. Read more...> This newsletter is written by: LaToya Irby Credit / Debt Management Guide Email Me | My Blog | My Forum Sign up for more free newsletters on your favorite topics You are receiving this newsletter because you subscribed to the About.com Credit / Debt Management newsletter. If you wish to change your email address or unsubscribe, please click here. About.com respects your privacy: Our Privacy Policy Contact Information: 1500 Broadway, 6th Floor New York, NY, 10036 © 2013 About.com Must Reads 10 Things To Improve Credit 15 Credit Score Killers Rebuild Bad Credit Stop Collector Calls 7 Steps to Pay Off Debt Follow me on: Advertisement