Amex Minor Authorized User

American Express forum. Talk about AmEx credit cards like Blue, Gold, Platinum, Centurion, and more.
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Snowman
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Postby Snowman » Tue Aug 20, 2013 10:05 am

SClay- Only a few years ago I was 15, but I had never thought about credit. I had a small part time job working at an amusement park (weekends only.) When I turned 18, I had the outlook of only buying in Cash, but then I discovered credit about a month before I turned 19, and I've been hooked since. If I were you, try getting a job, and just wait a few more years and believe me, you'll be in really good shape. i started with BOFA Cash Rewards card and it has been a good card to me so far, and thankfully I have been approved for most of the cards I have applied for. Just take it slow and steady and you'll be good to go.
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Capital one: Venture one-10,000, Visa Signature.


SClay
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Postby SClay » Tue Aug 20, 2013 11:10 am

So I found out some more information. I checked out some of their blue cards, and the authorized users don't even get the cashback/point bonuses for themselves. So basically any cash back I received would go directly to the primary account holder. The same goes for all their cards.That means all these perks I was getting excited over was for nothing LOL. I still believe it would be a good idea regardless, as long as I was the AU on a card that had no annual fee. I'll probably just stick to waiting until I'm 18. I'll let everyone know any updates.
Capital One Secured AU | $1851 | 10/2013
Capital One Journey | $1000 | 03/03/2016
American Express Delta Gold | Denied | 03/13/2016
Citi Bank Double Cash | $1000 | 03/13/2016
Chase Amazon Visa | Pending | 03/13/2016

woogs
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Postby woogs » Tue Aug 20, 2013 4:27 pm

SClay wrote:So I found out some more information. I checked out some of their blue cards, and the authorized users don't even get the cashback/point bonuses for themselves. So basically any cash back I received would go directly to the primary account holder. The same goes for all their cards.That means all these perks I was getting excited over was for nothing LOL. I still believe it would be a good idea regardless, as long as I was the AU on a card that had no annual fee. I'll probably just stick to waiting until I'm 18. I'll let everyone know any updates.


I thought that was a given? It is not your account - you are an authorized user (not an account) on someone else's account so of course they will get the points - and also be responsible to pay your bill if you don't.
American Express: MB Platinum Card, Business Platinum, Business Gold, SPG, Hilton Surpass
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SClay
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Location: South USA

Postby SClay » Tue Aug 20, 2013 5:27 pm

woogs wrote:I thought that was a given? It is not your account - you are an authorized user (not an account) on someone else's account so of course they will get the points - and also be responsible to pay your bill if you don't.


Considering I didn't know Authorized User's even existed until a few days ago, it's not really 'a given' for me. I always knew there were joint-holders which is why I was led to believe they would have the same rules. But for me, obtaining ANY sort of 'credit' card under 18 was completely unheard of and I didn't think it was possible under any circumstance. Clearly I was mistaken, hence my reason for coming on this forum.
Capital One Secured AU | $1851 | 10/2013
Capital One Journey | $1000 | 03/03/2016
American Express Delta Gold | Denied | 03/13/2016
Citi Bank Double Cash | $1000 | 03/13/2016
Chase Amazon Visa | Pending | 03/13/2016

woogs
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Location: Pittsburgh, PA

Postby woogs » Wed Aug 21, 2013 6:21 am

SClay wrote:Considering I didn't know Authorized User's even existed until a few days ago, it's not really 'a given' for me. I always knew there were joint-holders which is why I was led to believe they would have the same rules. But for me, obtaining ANY sort of 'credit' card under 18 was completely unheard of and I didn't think it was possible under any circumstance. Clearly I was mistaken, hence my reason for coming on this forum.


Your best bet is to still become an AU just for the age of credit history. You may be able to have them back date your card (I have been successful with back dating family cards to my membership date but others have not been).

The account older can keep the card and not even give it to you to use to help reduce risk if they are concerned (and set a spending limit of $500 or who not).

This still will greatly help your credit report.

1) It will show you have an Amex starting with the date you sign up (or sooner if you get them to back date it) - this will give you a few years head start on your "Average Age" of credit history which is a large part of your credit report.

2) You will get their credit line to display on your report which (assuming they are not maxing out or carrying high balances as the account holders balances will display on your report) give you a boost with a low credit utilization.
American Express: MB Platinum Card, Business Platinum, Business Gold, SPG, Hilton Surpass
Chase: Ink Plus, Ink Bold, Sapphire Preferred, United Mileage Plus, Marriott Premier
Citi: Executive AA World Elite MasterCard, AA Visa Signature, AA Business MasterCard
Barclays: US Airways World Elite, Arrival Card

mclide
 
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Joined: Wed Aug 21, 2013 8:17 pm
Location: New York

Postby mclide » Wed Aug 21, 2013 8:56 pm

Be mindful that even though Amex Green is an low tier card, it is rarely obtained by people with little or no credit history.

My advice - providing that grandma keeps her card in check - would be to be added as an AU for the credit history (and backdating), as woogs mentioned. Apply for a student card when you turn 18, make payments over 12-18 months, and then apply for Amex Green. Your credit will be in better shape and then you can backdate your Amex card to further give a boost to your credit score.

Oh, and don't bother with putting a utility or rent bill in your name. Those are rarely listed on credit reports.



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