topic 18 year old son credit 101 in Credit Cards

18 year old son credit 101

Anonymous — Thu, 08 Nov 2012 17:46:47 GMT

wow i am amaze to what my son have done in the last 8 months building his credit profile

March he asked me to add him as AU to walmart and target I did he then turn 18 march 2012 by september he generated his first score all were above 740 got his first secured card with bofa now he has all these cards 7 cards looks like primeville to. He started his own Phography buisness at 18

4.5 credit history AAOA 7 months income less than 15K annual

USAA Platinum Visa 15K

USAA Amex 4K

CITI Forward 2K

Discover More 3K

Chase Freedom 1.5K

GE Paypal Xtras Master Card 3K

Lowes 1K

Re: 18 year old son credit 101

Tran92 — Thu, 08 Nov 2012 17:49:33 GMT

Congrats to your son!

Re: 18 year old son credit 101

MsLadyRover — Thu, 08 Nov 2012 17:58:22 GMT

Very nice. Congrats to your son!

Re: 18 year old son credit 101

distantarray — Thu, 08 Nov 2012 17:59:08 GMT

not bad =)

Re: 18 year old son credit 101

brother7 — Thu, 08 Nov 2012 19:20:38 GMT

Kudos to your money-savvy son!

Is your son a member of the myFICO forum? Did he do this on his own or with dad's help?

Re: 18 year old son credit 101

Anonymous — Thu, 08 Nov 2012 19:24:51 GMT

Outstanding! If he isn't a member here he should be. I'm sure he can pass on words of advice and encouragement to people.

Re: 18 year old son credit 101

Anonymous — Thu, 08 Nov 2012 19:39:28 GMT

@brother7 wrote:
Kudos to your money-savvy son!
Is your son a member of the myFICO forum? Did he do this on his own or with dad's help?

Dads help by adding him as authorize user after he said he learned lots of info from the board now he is even giving me pointers haha he even told me he is in the garden now

Re: 18 year old son credit 101

Anonymous — Thu, 08 Nov 2012 19:59:07 GMT

Congrats. Wish someone added me when I was younger

Re: 18 year old son credit 101

nicholasyud — Thu, 08 Nov 2012 20:16:05 GMT

15 annual income with 15k credit limit lmao opppppspppppss **bleep**

Re: 18 year old son credit 101

Anonymous — Thu, 08 Nov 2012 20:46:04 GMT

@Anonymous wrote:
wow i am amaze to what my son have done in the last 8 months building his credit profile
March he asked me to add him as AU to walmart and target I did he then turn 18 march 2012 by september he generated his first score all were above 740 got his first secured card with bofa now he has all these cards 7 cards looks like primeville to. He started his own Phography buisness at 18
4.5 credit history AAOA 7 months income less than 15K annual

USAA Platinum Visa 15K
USAA Amex 4K
CITI Forward 2K
Discover More 3K
Chase Freedom 1.5K
GE Paypal Xtras Master Card 3K
Lowes 1K

Oh wow, that is impressive.

Tho I am sure that his USAA cards are pretty much useless and just sit in a SD. Since he only has an annual income of less than 15k and USAA cards have horrible rewards with their tiered spending levels.

Re: 18 year old son credit 101

PleioneG — Thu, 08 Nov 2012 20:48:58 GMT

Definitely wish someone had told me how to properly use my credit when I was younger. I intend to pass this advice down to my children so that they don't make the mistakes I did.

Re: 18 year old son credit 101

Anonymous — Fri, 09 Nov 2012 00:41:30 GMT

@Anonymous wrote:
@Anonymous wrote:
wow i am amaze to what my son have done in the last 8 months building his credit profile
March he asked me to add him as AU to walmart and target I did he then turn 18 march 2012 by september he generated his first score all were above 740 got his first secured card with bofa now he has all these cards 7 cards looks like primeville to. He started his own Phography buisness at 18
4.5 credit history AAOA 7 months income less than 15K annual

USAA Platinum Visa 15K
USAA Amex 4K
CITI Forward 2K
Discover More 3K
Chase Freedom 1.5K
GE Paypal Xtras Master Card 3K
Lowes 1K

Oh wow, that is impressive.

Tho I am sure that his USAA cards are pretty much useless and just sit in a SD. Since he only has an annual income of less than 15k and USAA cards have horrible rewards with their tiered spending levels.

youre absolute right that card is in the safe even though he is responsible 15k with a 18 year old can be tempting

Re: 18 year old son credit 101

beb86 — Fri, 09 Nov 2012 01:28:03 GMT

@Anonymous wrote:
wow i am amaze to what my son have done in the last 8 months building his credit profile
March he asked me to add him as AU to walmart and target I did he then turn 18 march 2012 by september he generated his first score all were above 740 got his first secured card with bofa now he has all these cards 7 cards looks like primeville to. He started his own Phography buisness at 18
4.5 credit history AAOA 7 months income less than 15K annual

USAA Platinum Visa 15K
USAA Amex 4K
CITI Forward 2K
Discover More 3K
Chase Freedom 1.5K
GE Paypal Xtras Master Card 3K
Lowes 1K

Where is his BOA card on here? With the new rules on CCs on people under 21 it really makes this hard not to be skeptical esp with a stated income of only 15k....I wont name any names but this sounds a little like you know who.....

Anywho congrats to your son...(puts popcorn in microwave)

Re: 18 year old son credit 101

creditnocash — Fri, 09 Nov 2012 02:12:54 GMT

with the au boost.

the only real advice anyone needs is pay on time only if its to pay the least. never ever pay late or dont pay.

and only apply for what you need not what you want.

spend what you can pay now not what you think you can pay next month.

and youll be golden.

Re: 18 year old son credit 101

Anonymous — Fri, 09 Nov 2012 03:15:45 GMT

@beb86 wrote:
@Anonymous wrote:
wow i am amaze to what my son have done in the last 8 months building his credit profile
March he asked me to add him as AU to walmart and target I did he then turn 18 march 2012 by september he generated his first score all were above 740 got his first secured card with bofa now he has all these cards 7 cards looks like primeville to. He started his own Phography buisness at 18
4.5 credit history AAOA 7 months income less than 15K annual

USAA Platinum Visa 15K
USAA Amex 4K
CITI Forward 2K
Discover More 3K
Chase Freedom 1.5K
GE Paypal Xtras Master Card 3K
Lowes 1K

Anywho congrats to your son...(puts popcorn in microwave)

yes his BOFA is now 7 months old his income is 15k a month from hisphotography business it's a hobby but his making moneymaybe I should of added that he also gets gibill bill of 987 a month he said that some cc company accepts it as income and some don't navyfed doesn't accept gbill as income but usaa does and others did not even verify income. can some tell me what beb86 trying to imply

Re: 18 year old son credit 101

Repo-ed — Fri, 09 Nov 2012 03:16:40 GMT

If I have kids one day, I hope to be as successful

Re: 18 year old son credit 101

nicholasyud — Fri, 09 Nov 2012 03:24:11 GMT

@Repo-ed wrote:
If I have kids one day, I hope to be as successful

i dont think its a good idea to let kids had that kinda high credit limit.............That's the reason why most credit company wont let one had their first credit card when they 21 .......When you said Kid....yeah its a kids...........Its very easy for them to get in trouble with that kinda high money in hand..............just sayin'.......................