Establishing Credit History

SFMum
Thu, 10 Jun 2010 00:12:19 +0000

My D will be 18 and a freshman attending UCSD. I was thinking of getting her a credit card to start establishing her credit history. Then I’m assuming I should open some type of bank account for her so that she’ll have access to cash. She’s very responsible. One footnote though is that she’s not that accustomed to carrying valuables and might “misplace” her card. A few Qs:

1) Aren’t credit cards the primary (only?) way to establish credit? Debit cards will not help her establish credit right?

2) Any recommendations on credit card companies?

3) Should her access to cash be a card tied to a checking account? Are there other options?

4) Is there anything else I should consider about these credit and banking matters?