Hello I am in need of a credit card that allows me to set a hard limit on authorized users. In addition I need for the card to allow a different limit for the primary and secondary card. Other then the above here is the rest of my wish list: I need MC/Visa. (Amex not excepted at enough of the AU's vendors.) I would like a card with no fees, annual, or for the second card. Decent customer service would be nice. Having it be possible for the AU to go online and see their account details without being able to make any changes could be helpful. Other considerations: The balance will be paid in full every month. There is no need for any type of rewards. A debit card will not work in this situation. This card/account will only be used for the maintenance of the AU. Explanation: I am using this card to help a family member to pay for basic living expenses. Sadly my family member is border line competent, thus the need for me to help financially. I currently am using a BoA business card but a year or more ago they changed their policy and allow the AU to spend above the limit I have set. It is only supposed to go over by 20%, if I remember correctly, but they routinely allow the AU to go over by >50%. This is very frustrating, I have called customer service multiple times about the issue but there seems to be no way for them to enforce a hard credit/spending limit on this card. Thanks for your help. B Stream.
B Stream. I think you might want to reconsider the AU route and consider opening a secured or prepaid card in your family member's name as an alternative. Prepaids allow you to set a hard limit w/o assuming risk for overspending; secured cards are similar in that regard in that they limit risk by putting a cap on spending, which sounds like what you're after. Business cards are actually the best cards for authorized users because you can set hard limits on employee cards, which are also usually free to add. Chase Ink is particularly strong in that regard and it's also a Pay-In-Full w/ no interest.
I agree with Josh, to avoid fees maybe go with the secure or prepaid card. Thanks! Heather with BoostMyScore.NET
