Adding your child as an authorized user to a credit card builds their credit
Being an authorized user does not build credit history
FreeKick builds credit by creating a credit profile for your child and adding a primary credit account that lenders look for when making credit decisions.
FreeKick has NO impact on a parent’s credit score, and you don’t need good credit to build credit for your child with FreeKick
FreeKick allows you to establish and build credit for your children as young as 14 years old and up to 25 years old.
Being an AU gives a child a false positive:
a credit score without credit history
It’s a common misconception that being an Authorized User (AU) builds credit history, it doesn’t.
In addition to not building credit history, many banks and lenders simply ignore AU accounts when making credit decisions.
Here’s what Fannie Mae (the largest mortgage purchaser in the nation) has to say about AU accounts:
An authorized user tradeline may (only) be considered if:
…the borrower can provide written documentation (e.g., canceled checks, payment receipts, etc.) that they have been the actual and sole payer of the monthly payment on the account for at least 12 months preceding the date of the application.
Building credit with FreeKick is safe, reliable, and simple
Step 1: Parent
Step 2: Child
It’s really that easy.
When your child reaches age 14 or older, up to 25, you simply ‘Activate Credit Building’ on your FreeKick account dashboard and we take care of the rest. Your child will automatically start building credit history.
When your child becomes an adult, they simply ‘Activate Credit Reporting’ and we report their credit account to the three major consumer credit bureaus. Jumpstarting their profile and credit score with up to 4 years of history and 24 most recent payments.
Good credit is critical for young adults and can save your child more than $200,000 over their lifetime.
Having good credit can make an immediate positive impact on your child’s financial future.