An authorized user is a secondary account holder on a credit card, which means the user has access to an existing credit card account but ultimately isn’t responsible for making payments. Although someone can become an authorized user of a sibling’s or even a friend’s account, the most common arrangement is between a parent and a child. The arrangement benefits young adults who may not qualify for credit on their own because they have little or no credit history and limited income. Although most credit card companies won’t issue a card to someone who is younger than 18, a child who is younger than that can be an authorized user.
Bu hikaye Kiplinger's Personal Finance dergisinin February 2021 sayısından alınmıştır.
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Bu hikaye Kiplinger's Personal Finance dergisinin February 2021 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Giriş Yap
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