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April 8, 2024

Why adding a child as an authorized user might not help their credit

  • There are other effective strategies worth exploring to establish good habits and build credit.
    • By LAUREN SCHWAHN
    NerdWallet

    iStock image
    Even if you can add your child, the issuer may not report their account details to the credit bureaus.

    As parents, we want the best for our children: health, happiness — and hardy credit. Having a strong credit profile can determine whether your kid gets approved for a loan or how much they'll pay for car insurance when they're grown. But establishing credit for someone with no credit history is challenging.


     
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