Establishing Credit History

ellemenope
Thu, 10 Jun 2010 16:27:57 +0000

One thing to think about banking is how to make it easy for you to get money to your kid. We all bank at the same bank so that I can transfer $ to her account online–no fuss, no muss.

Our kids got the BofA Campus Edge package when they went off to school. Checking account, debit card, low limit credit card in their own name. Of course, this was all before the new banking regs.

We told our D’s to charge something every month and pay the bill every month. Older D had a great credit score that helped her snag some good financing for the car she bought a year after college graduation.