College Discussion - View Single Post - No credit history

younghoss · 06-18-2007, 10:58 PM

In our case, son got a checking and savings at 16, with only a debit card[checking]- no actual checks. That prevented him from easily writing bad checks, as some youngsters do. Also, when we got his first car, we financed part, debt in his name, us as cosigners. We mostly made payments as gift to him, but it went on his credit history. Its tough to wait until 18 to establish credit then expect it almost instantaneously.

06-18-2007, 10:58 PM	#7
younghoss Junior Member Join Date: Mar 2005 Threads: 5 Posts: 160	In our case, son got a checking and savings at 16, with only a debit card[checking]- no actual checks. That prevented him from easily writing bad checks, as some youngsters do. Also, when we got his first car, we financed part, debt in his name, us as cosigners. We mostly made payments as gift to him, but it went on his credit history. Its tough to wait until 18 to establish credit then expect it almost instantaneously.