Notes From the Fieldby Martin Weil

June 19, 2013

How to Help A Teen Build Their Credit Score

Amelia Granger of NerdWallet gives some good advice in this US News article.

My own preferred approach has been a credit card with a small credit limit that the parents co-sign. Managing its use is a two-fer as it helps the teen learn how to manage their own money and can help build a credit score.

[Update  8-14-13:  Having read several other writers on the subject, I am changing my recommendation to a co-signed debit, not credit, card.  See Morningstar here.]

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