- August 8, 2008 at 6:34 pm #261359
They can put 250 dollars into a capital one credit card or other company secured card. The credit limit would start out like 300 dollars or so. The 250 dollar deposit will earn interest. As the child buys on the card and pays it off, their score will increase.
After a couple of years the deposit plus interest will be refunded to them.
Dell is pretty lenient once they have some sort of history.
From: Anggie Thompson
Sent: Friday, August 08, 2008 1:34 PM
Subject: Budget101.com : 18 year old
Another question for 18 year olds. How is the best way for them to start a credit history without me (mom) co-signing? My son does not have a good track record so far with paying for his car (money loaned from his grandma) & cell phone (on grandma’s plan), so I absolutely will not co-sign for anything.
Fight Breast cancer……no one should die from it
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