UnThreaded | Threaded | Whole Thread (21) | Ignore Thread Prev | Next
Author: Fuskie Big funky green star, 20000 posts Top Favorite Fools Old School Fool Ticker Guide SC1 Red Winner of the 2010 Rule Breakers Challenge Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 308576  
Subject: Re: Add a Child to Our Credit Card Account? Date: 10/29/2013 1:17 AM
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Recommendations: 3
Of course, if establishing credit for DD is your goal, the debit card won't work, but if giving them the flexibility of plastic without the ability to overspend, it's a viable option. If you want to establish a credit history without putting your own credit at risk, a secured card is a viable option as well.

I did a little Digging, and here is some reading material that may be of help:






You may also want to check with your local bank or preferably, credit union, to see if they have any products that might serve you and DD's needs. Also, it's important to understand the differences between a co-signer, joint cardholder and guarantor:


Who appreciates your desire to give DD some freedom and independence and the get her started building up a credit history, but cautions that you have to first protect yourself and by extension protect DD from abuses rising from youthful inexperience with credit...
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (21) | Ignore Thread Prev | Next


TMF Credit Center
The Motley Fool Credit Center arms you with real tools and simple messages, that will help you in every credit situation.
Managing Your Wealth
Our own TMFHockeypop from Rule Your Retirement fame on the TV show Managing Your Wealth.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Post of the Day:
Value Hounds

Back to the Future Buffalo Wild Wings
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and "#1 Media Company to Work For" (BusinessInsider 2011)! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.