The Motley Fool Discussion Boards

Previous Page

Personal Finances / Credit Cards and Consumer Debt

URL:  https://boards.fool.com/i-second-the-opening-a-new-account-with-a-low-30946055.aspx

Subject:  Re: Add a Child to Our Credit Card Account? Date:  10/28/2013  10:12 PM
Author:  vkg Number:  307419 of 313032

I second the opening a new account with a low credit limit. Keep track of the credit limit. Issuers routinely increase credit limits when the card is consistently used and paid on time. You can call and have the credit line reduced to the minimum allowed.

Co-signing for a card with a low credit limit isn't high risk, and having her as a co-owner starts her building credit.
Copyright 1996-2021 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us