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SonnyHoney54

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How can I help my 18 year old daughter build a credit file / score?
I am helping my daughter build a credit file. Credit Karma states that the file is too thin to generate a score. How many of my accounts do I need to add her as an authorize user to help in generate a score for her? How long should I expect to wait for a score to appear after adding her as an authorize user to my accounts?

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I would buy here a copy of Total Money Makeover  from Dave Ramsey and have her read it.   Now I don't follow Dave 100% as I don't belive Credit is bad,  Debt is bad and Credit Cards and auto loans can get a person in a lot of trouble.

Does she have a Checking & Savings account already?  Is she pay any bill now like a cell phone?  Does she have a job?   If she has been working maybe she could apply for a store card like Old Navy with a low credit limit as she is just starting out.

I would not add her to any of your accounts as that would give her a false type of credit score.  She is only 18,  she has her whole life ahead of her to build and work on it.   As a parent we all want the best for our kids.

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Reply by
SonnyHoney54

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I like your advice but I had already added her to two of my accounts…. been helping my 18 year old daughter build credit.  She have a 2.5 year Kohl’s card and a 2 month old Citibank double back Visa card on her credit report.  Credit Karma generated a 750 score for her on both of their new credit model. 

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