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Both my kids have a Visa card with our account number on it, but with their name imprinted on the card. The bill includes all 4 cards as they are the same account number; it is no different than when I have a card on my husbands account. ...the children will not be building credit in their name;
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What I mean is I want him to get credit so he can apply for his own loans
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Here is what I learned on a cc thread earlier this year. As with pokey, our S has had a Visa card, with his name on it, but on our account, for a couple of years. At 18, we got him a card, again with his name on it, but again on our account, with AX. (AX requires kid to be 18). On cc, I read that this situation actually builds good credit for the kid! I couldn't believe my eyes... BUT, I went on-line to check S' credit score. Lo and behold! He has a great credit score (over 700; 850 is the max and not sure anyone ever gets the actual 850; a truly excellent score is anything over 800 and over 700 is very good).
CC was right! Kids are building good credit through having a card on parents' account in their own name. They are building this good credit thanks to us paying our bills on time. Who knew?