Hook
More breakout videos from this creator.
Come along with me to add my 6 month old baby as an authorized user on my credit card. For those that are curious as to why I am doing this, so my entire goal is to make sure I can set my daughter up to be as financially successful as I possibly can for me. How I'm doing that is I have a really good credit score of 794, which is considered as very good. I've already spent years building my credit history. What I'm doing for her is adding her as an authorized user, which in turn, once she turns 18, she's going to be able to open up her own credit card. When she opens up her credit card, she's already going to have 18 years worth of credit history because she's piggybacking off of my credit history. That is assuming I maintain a good credit score, I keep making my payments on time and so forth. That is going to be to her advantage. I do want to preface that not all credit card companies allow you to add an authorized user that is a minor. Discover does not report any credit history up minors, but Capital One does allow it. So I'm going to open mine up through them, her adding her as an authorized user. The first step to that is going to be clicking add user when you log into the Capital One website if you have a credit card with them. The next step is to fill out their name, their date of birth and that's all you need if they are under 13. Because if they're under 13, they can't ask you for their social, email and so forth. She's currently approved now as an authorized user and they will be sending her card home, which of course I'm not going to ever give her that card. Like that card is just going to be sent home to be sent home, but I'm just going to be keeping that card. Thank you guys so much. Bye.