Establishing Credit History

gnusasaurus
Thu, 10 Jun 2010 17:13:18 +0000

We also got my son the BoA CampusEdge checking account and do our personal banking at BoA, so managing the account is easy.

When he started college, we got him a credit card on our account. He will be attending graduate school this fall, and we just went to BoA to get him his own card this week. His purchases have been $100 per month or so on our family credit card, for groceries, gas and auto repairs and probably some books. Everything else, came from his checking account.

He will have a salary as a research assistant at grad school, so it is now time for him to begin paying all his own expenses and establishing his own credit.

BoA rep told us that the bank may come back with a counter proposal, such as a partially secured credit card or co-signor. Even at age 22 and having an income, they are very restrictive.