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Help Your College-Age Child Build Credit With a Low-Limit Card
Personal Finance

Help Your College-Age Child Build Credit With a Low-Limit Card

Kristin Wong, Gawker Media
Help Your College-Age Child Build Credit With a Low-Limit Card

It's important to build solid credit because your life can be difficult without it. To help your adult child establish credit, have them sign up for a low-limit credit card.

http://twocents.lifehacker.com/your-credit-sc...

Forbes offers a few different tips for helping college students build credit, and here's one they suggest:

Have your child open a credit card-but have the bill sent to your house....You can help them by monitoring their credit card usage. Start with a low-limit card that can also earn them reward points and be sure to pay it off in full to avoid those high interest charges.

There are other options to build credit from nothing, too . Secured credit cards can help, and so can adding your child as an authorized user on your own credit card accounts. Forbes' tip is a good way to establish credit without the temptation to spend, though. In other words, you can help your child build a credit score without actually using a card . Eventually, it pays to learn to use credit responsibly, but this is a decent option when you're just starting out.

http://lifehacker.com/5897723/ways-t...

For more detail, head to their full post at the link below.

3 Financial Tips For Parents Sending Students Off To College | Forbes

Photo by CUNY Academic Commons

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