Credit Advice

Have a question? Have advice to share? The combined knowledge and experience of everyone in the Credit Karma community can help you. Enter your question or help others below to get started!

Question

Posted in Credit Scores
Profile Image

Question By
daughterrrrr

0 Contributions
0 People Helped
my daughter has no credit how can i help

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW
All Responses

Results 1-2 of 2Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next
Top Contributor
785 Contributions
299 People Helped
Most Helpful Response

Helpful to 2 out of 2 people

I wouldn't co-sign on a loan, because if she doesn't pay for any reason  you'll be responsible. This will go on your credit report too.  I would only add her as an authorized user on a credit card, if you keep the card. You could charge a few things online and make sure the balance is paid. Ideally have her get a secured credit card.  The credit company will ask for $300, then. give her a $300 limit. She should charge no more than $50 at a time before paying it off.  

I realize you want to help her, but if you read all the horrible scenarios that have occurred by people co-signing, you'll understand why I discourage this.

Top Contributor
16 Contributions
33 People Helped

Co-sign a loan for her. Add her as an authorized user on one of your credit cards. Or tell her she could get her own secured credit card.

Results 1-2 of 2Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW

Reply to this Question

Write your response:
Enter Your Comments

The Credit Advice pages of the Site may contain messages submitted by users over whom Credit Karma has no control. Credit Karma cannot guarantee the accuracy, integrity or quality of any such messages. Some users may post messages that are misleading, untrue or offensive. You must bear all risk associated with your use of the Credit Advice pages and should not rely on messages in making (or refraining from making) any specific financial or other decisions.