State laws prohibit the extension of credit to a minor; however, it is still not difficult for you to obtain a credit card for your child. Except for American Express, many credit card companies and department stores will issue a credit card to your child of any age, as long as you assume total responsibility for the charges made by the child. American Express allows their card members to receive additional cards for family members when they reach the age of 18. Still, the child as well as the parent is responsible for the charges made. Another approach you can take is have parent help establish credit for their teenager by purchasing items on credit, such as a washer & dryer or television, in the child's name with the teenager acting as a cosigner. Make the payments themselves, therefore giving the teenager a positive credit rating for a household purchase. Also the parent can add the teenager as an authorize user on their credit and their good credit will be added to teenager credit. However, this approach is becoming unpopular due to firms selling their good credit. I feel that it will work better if the users have the same last name and I've see that this has not affect user from increasing their score.
Your credit history is simply the period of time you have had open lines of credit. Say you had five credit cards and you kept them each for exactly one year and then closed each of them. You would have five credit years of history but most scoring systems would see that as one year of credit history. If you had one credit card account for one year and another for the subsequent year and so on for five years, you would also have five years of credit history, but, again, scoring systems would still see that as (more or less) one year of credit history. Now, if you had one credit card for five years, then the scoring systems would definitely see that as five yeas of credit history. So, creditors and scoring systems look at how long you have maintained each line of credit and the longer the better.
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There are many websites that offers credit history and credit score. The government offers a free credit history report once per calendar year that you can take advantage of.
The best way to get a credit check or pull up your credit history is with a credit report. You can get one of these from Equifax, and they are obligated to give you a free one once a year.
Architects don't "build" skyscrapers, they design them. Give credit where credit is due, IronWorkers build skyscrapers.
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Not anymore. This year marks the beginning of a new policy for FICO scores regarding authorized users. It will no longer add positive entries to your credit report.
You can obtain your credit report for free through your credit card company twice a year. You can also request your credit history through equifax, transunion, or experian for a small fee.
You can get your credit history for free once a year from a government website. However, the free credit history doesn't show your score. For that you can go to equifax.com
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Paying on a 'frozen' account will help your credit score but not immediately as the creditors want to see a 6 month to 1 year good repayment history.
Sixteen year olds cause about 76 wrecks per year.