Financial Planning for Regular Folks
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5 Ways to Help Your Teen Build a Credit History

 

 

Your teenager can start building a credit history for his or her future. You can help by following these tips.

5 Ways to Help Your Teen Build a Credit History

5 Ways to Help Your Teen Build a Credit History
 
1. Add your teen as an authorized user on a credit card.

Your credit history with the card will transfer to your teen.

2. Check your teen’s credit report and score.

It’s important to do this on a regular basis, so you can note changes.

3. Help your teen open a bank account.

Your bank may offer student accounts.

4. Apply for a credit card geared toward students.

They may have lower limits, but they’re usually easier for teens to get.

5. Consider getting store cards.

They may be easier to get for your teen.

 
It takes time and effort to build a teen’s credit history. However, it’s worth it because a positive credit history will benefit your teen for years to come.

 
 

 
 
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