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lilbytes

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How can I help my soon-to-be 17 year old soon start building his credit?
If I open a credit card and authorize my soon-to-be 17yr. old son to use it, will it show up on his credit report later? Would it help him in any way build up his credit history?

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Teen credit

Even though you have to be 18 years old to open a traditional credit account, adding your teenager kid to existing credit accounts as a co-signee (including their Social Security #) is already adding time to their credit history. Choose your options wisely, you will be elevating your level of trust and will have shared liability.

Also, opening Bank accounts like savings and high school checkings will create good will from that institution to approve your kid's first credit application. If your teen gets a part-time job, make sure he/she asks for direct deposit into his/her account.

Good luck

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One has to be 18 to be able to get a credit card.  I suggest you and your teen take the time to read the articles on this site so you can both learn how credit works and how to build a good credit score.  I have a degree in business and learned more about credit here than in all the college classes. Learning about credit before even starting to use it is smart.  This would be the best thing you could do for your son and let him make the decision about when to start using credit for himself after he reaches that adult age.

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