If you own a rewards credit card, any purchases on your account made by authorized users will contribute to your total rewards. Furthermore, you can help someone, such as a family member, establish a credit history by adding them to your account. Every on-time payment made to your account not only positively affects your credit score but eventually boosts the credit of any authorized users. Keep reading for a summary of the associated risks and rewards: Pros Authorized users are typically able to enjoy some of the card’s perks while the responsibility falls on the primary cardholder. There are both pros and cons to consider when adding an authorized user to your card. For example, if you have a rewards card like the Capital One Venture Rewards Credit Card, authorized users earn 5X miles on hotels and rental cars booked through Capital One Travel and 2X miles on all other purchases when they pay with the card. Whenever you make an on-time payment, not only will it appear on your credit report, but also on those of your authorized users.Ī benefit for the primary cardholder is that, depending on which Capital One card they hold, they’ll be able to boost their rewards haul. Whether this is a spouse or child, by adding them as an authorized user, you’ll be helping them boost their credit score or build their credit from the ground up. Before adding an authorized user on your Capital One credit card, make a plan concerning how much each person can spend and when or how they will pay your back.īecoming an authorized user could be a great way to help build someone’s credit. Because of this, it’s important to ensure your authorized users won’t overspend. However, there is a degree of risk involved when adding an authorized user, so you should consider this before deciding if it’s the right choice for you.Īlthough Capital One authorized users will make charges to the same account as the primary cardholder, the primary cardholder is the one responsible for paying off the balance. Should you add an authorized user to your Capital One card?Īdding an authorized user to your Capital One card can provide great benefits to both you and your added users. When adding a user, you’ll have to provide Capital One with that user’s name, date of birth and Social Security number. How to add an authorized user to your Capital One account Thankfully, your rewards cannot be cashed in by authorized users unless you authorize them to do so – so you won’t have to worry about missing points, miles or cash back. You also have the option to remove them from your account by logging in, clicking “Services” and selecting “Manage Authorized Users.” Click on the name of the user that you’d like to remove, then check the “remove user” option. Unless you unlock it, the user will not be able to make purchases on the account. If you notice an authorized user is spending too much, in some cases, your only safeguard is to instantly lock their card. Prior to adding an authorized user, be sure that they’ll spend responsibly not every card offers the option to impose spending limits to prevent authorized users from overspending on your account. You will need to provide names, phone numbers, Social Security numbers, dates of birth and the addresses of authorized users when adding them.
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