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Adding authorized users to your credit card account can be a strategic move, enhancing your ability to earn rewards while offering additional benefits. However, choosing the right credit card to add authorized users can make all the difference. Let’s explore some of the best credit cards available as of late 2023 for adding authorized users and the benefits they bring.
Why Add Authorized Users?
There are several reasons cardholders might consider adding authorized users to their account:
- Maximize Rewards: More users mean more spending, which can accelerate the accumulation of points and miles.
- Build Credit: Authorized users can benefit by having their credit improved, especially if they are new to credit or rehabilitating it.
- Family Convenience: It provides family members with access to funds while keeping track of one consolidated account.
Features to Look For
When deciding which credit card to add authorized users, consider the following features:
- Add-on Fees: Look for cards that either have no fees or reasonable fees for adding users.
- Benefit Sharing: Consider what perks and benefits extend to authorized users, like lounge access or travel protections.
- Spending Controls: Some cards offer the ability to set spending limits for authorized users, which could be useful for budgeting.
Top Credit Cards for Authorized Users
Here are some standout credit cards that offer great benefits for adding authorized users:
- Chase Sapphire Preferred® Card: A widely popular card with a modest annual fee, it offers substantial travel and dining rewards, making it an excellent choice for families who frequently engage in these activities.
- American Express Gold Card: Known for its rewarding cashback programs, particularly in dining and grocery categories, thus providing added value as more members spend in these categories.
- Capital One Venture Rewards Credit Card: Offers simple flat-rate travel rewards, which can be a huge benefit when authorized users are frequently traveling or spending on travel-associated categories.
Extending Perks to Authorized Users
While primary cardholders often get the lion’s share of benefits, many cards extend key perks to authorized users. For example, with the Chase Sapphire Reserve®, authorized users can enjoy perks like Priority Pass Select membership, enabling them access to over a thousand airport lounges worldwide. These benefits can significantly enhance the travel experience of authorized users, making travel more comfortable and rewarding.
Conclusion
When selecting a credit card to add authorized users, take into account the specific needs of both the primary account holder and the authorized users. The right card can not only support more extensive reward-earning opportunities but also enhance the financial flexibility and benefit utilization for every user on the account. Always weigh the costs of additional fees against the potential rewards and benefits to ensure the smartest financial decision.
Choosing the right credit card for authorized users isn’t just about convenience—it’s a calculated move to maximize rewards and extend additional perks to those you care about. As credit card offers and features frequently change, staying informed and periodically re-evaluating your options is key to maintaining an optimal rewards strategy.
