To Share or Not to Share?

Credit cards are common place these days. People get them for many reasons. The newest trend with credit cards is to get additional cards with authorized users. That’s when the question becomes; to share or not to share?


More and more people are “sharing”there credit card with someone by having them as an authorized user. So who is doing the sharing? Who benefits most in this scenario, truly depends on the situation.


Many parents are starting to give their teens cards and add them as an authorized user.Why? They want to know that if something happens and they need something and have no money, this card will help them out. They can be called “emergency cards” because parents give them to their teen in case of an emergency. It gives the teenager a small sense of freedom; they know that if something happens they can deal with it without having to call their parents. It gives the parents a sense of security knowing that in the event of an emergency their child can take care of themselves. It becomes a win-win.


There are a great deal of spouses out there that “share” their credit cards. They both have their name on the account and they are both authorized users. This becomes convenient as many couples do not always run errands together. Sometimes one will need to stop somewhere on their way home from work. Sharing the credit card in this way ensures that one will always have to go to a certain store if it is a store card. This helps to make things simpler.


More and more boyfriends and girlfriends are sharing cards as well. One may already have a card and decide that it would be easier if their significant other was an authorized user in the event they needed their significant other to pick something up for them.


Authorized users and shared credit cards are becoming more and more common. There is one thing to keep in mind when thinking of adding someone as an authorized user. The actual account is in one person’s name. The authorized user can use the card and the account. However at that end of the day the person with the account gets the bill and is responsible for paying it. That should not detour you if you are adding an authorized user for such things as emergencies. If you know that you account balance will not get out of hand by having an authorized user it can be a nice thing to have.


If you decide to add an authorized user to your credit card, make sure to talk to them first.Set limits, it can be used for this, but not this. This is how much can be spent on it in a given amount of time. Come up with rules that work for both parties involved and it can be very helpful to have.

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