topic Re: My 15 year old daughter has a 801 Credit Score O.O <SHOCKED> in General Credit Topics

My 15 year old daughter has a 801 Credit Score O.O

Anonymous — Wed, 14 Jan 2015 05:28:45 GMT

My 15 year old is an AU on all of my accounts ( 9 revolving ) mainly because I wanted to teach her the aspect of credit at an early age so she didn't go hog wild when she turned 18 like some people do ( looks in the mirror ). So she has US Bank, Cap 1, Barclays, Discover, Belk, Rooms 2 Go, Wal Mart, Target, Kohls, etc. in her wallet. Well I logged in to Credit Karma to check my score and she was sitting next to me and was curious if she had a score. So we pulled it up and Credit Karma showed her at an 801 for Transunion and on her account it also shows Equifax which is 812.

I'm not sure whether to be proud that my daughter has great credit or ashamed her credit is better than mine. LOL =D

At any rate, just an interesting post that I thought some would get a kick out of.

I have to run now....I gotta try to talk her in to co signing for my next car loan ^.-

Re: My 15 year old daughter has a 801 Credit Score O.O

Shock — Wed, 14 Jan 2015 05:31:55 GMT

I think it's great that she's learning at an early age. I, like many people here, believe that it must be taught. I think they should make it a requirement before graduating high school. Credit is a dangerous game, but excellent if tamed properly. I have rebuilt my credit from the ground up since my early and naive days. However, even now I take it for granted and can go buckwld sometimes. So the biggest thing is discipline.

Re: My 15 year old daughter has a 801 Credit Score O.O

Anonymous — Wed, 14 Jan 2015 05:32:33 GMT

I can understand having her as a AU to build credit. But why would you give her all the cards for her to keep in her wallet at 15? Is she paying for the charges? To most 15 year olds they would just consider that free money since they aren't paying the monthly bill.

Re: My 15 year old daughter has a 801 Credit Score O.O

Anonymous — Wed, 14 Jan 2015 05:33:13 GMT

Your Credit Karma credit score is not always the same as your real TransUnion credit score. It is based off of TransUnion information, though. Your daughter's score may not be higher than yours, after all, but you never know...

Re: My 15 year old daughter has a 801 Credit Score O.O

Anonymous — Wed, 14 Jan 2015 05:34:40 GMT

Yes, she pays for her charges. She works 25 hours a week ( after school and on weekends ) and makes about 175 bucks a week after taxes. She pays for everything she charges

Re: My 15 year old daughter has a 801 Credit Score O.O

Anonymous — Wed, 14 Jan 2015 05:35:20 GMT

Have her app for a Ritz.

Re: My 15 year old daughter has a 801 Credit Score O.O

Anonymous — Wed, 14 Jan 2015 05:36:51 GMT

I'll get her to app for a Chase Palladium and add me an AU

Re: My 15 year old daughter has a 801 Credit Score O.O

Anonymous — Wed, 14 Jan 2015 05:41:09 GMT

On a serious note, she has done really well. She made one major purchase which was an XBOX one for 399.99 and started out paying the miminum payment of 15.00 a month. I never told her to pay more because that was the amount we agreed she HAD to pay each month. Then out of nowhere she says, i'm just going to send them 75.00 a month so I can get this paid off. If I pay 15.00 a month, it will take me forever.

She is starting to "get it" and I'm very proud of her for that fact.

Re: My 15 year old daughter has a 801 Credit Score O.O

Anonymous — Wed, 14 Jan 2015 05:44:41 GMT

@Anonymous wrote:
On a serious note, she has done really well. She made one major purchase which was an XBOX one for 399.99 and started out paying the miminum payment of 15.00 a month. I never told her to pay more because that was the amount we agreed she HAD to pay each month. Then out of nowhere she says, i'm just going to send them 75.00 a month so I can get this paid off. If I pay 15.00 a month, it will take me forever.

She is starting to "get it" and I'm very proud of her for that fact.

Hey, the other post was funny, but on a serious note, that's some good parenting. Good job leading her in the right direction. My pops in an accountant and they only thing he taught me at that age was how to rack up hundred dollar late fees at video stores. OTOH we did end up owning "The Karate Kid" and "The Goonies". Good job, Dad.

Re: My 15 year old daughter has a 801 Credit Score O.O

gdale6 — Wed, 14 Jan 2015 05:45:06 GMT

@Anonymous wrote:
Have her app for a Ritz.

A 15 yr old cannot legally enter into an agreement she is a minor. In the US one needs to be 18 to app for a CC.

Re: My 15 year old daughter has a 801 Credit Score O.O

Anonymous — Wed, 14 Jan 2015 05:46:20 GMT

@gdale6 wrote:
@Anonymous wrote:
Have her app for a Ritz.
A 15 yr old cannot legally enter into an agreement she is a minor. In the US one needs to be 18 to app for a CC.

I was being silly.

Re: My 15 year old daughter has a 801 Credit Score O.O

Anonymous — Wed, 14 Jan 2015 05:46:45 GMT

The Goonies..........GREATEST MOVIE EVER < WHISTLES CYNDI LAUPER

Re: My 15 year old daughter has a 801 Credit Score O.O

gdale6 — Wed, 14 Jan 2015 05:47:17 GMT

@Anonymous wrote:
@gdale6 wrote:
@Anonymous wrote:
Have her app for a Ritz.
A 15 yr old cannot legally enter into an agreement she is a minor. In the US one needs to be 18 to app for a CC.
I was being silly.

Ok, I though about that after I posted....

Re: My 15 year old daughter has a 801 Credit Score O.O

Anonymous — Wed, 14 Jan 2015 05:47:42 GMT

@gdale6 wrote:
@Anonymous wrote:
Have her app for a Ritz.
A 15 yr old cannot legally enter into an agreement she is a minor. In the US one needs to be 18 to app for a CC.

I'm 99.999999% he was being funny.....

Re: My 15 year old daughter has a 801 Credit Score O.O

Anonymous — Wed, 14 Jan 2015 05:48:29 GMT

I'm wondering how you were able to get her report from CK. I tried to sign up my 17 year old sister since she's been an AU on my Discover card for a while now and CK said you must be 18 years and 1 month old to make an account with them.

Re: My 15 year old daughter has a 801 Credit Score O.O

JamesB95 — Wed, 14 Jan 2015 05:51:06 GMT

That is wonderful!

I wish I had credit worthy parents growing up. It has been a struggle for me to learn the credit ways on my own, being the only one in my immediate family with a decent credit history (so far).

I am only 19, low income, full-time college student. I have a Discover IT now.. I have new cards in the mail on the way, being auto approved for each one with a decent starting limit considering how low my income is. My next step is to garden and let my INQ fade, pay off the rest of my Discover and watch my credit score shoot back up in the 700s.

I know once/if I have a child, I will teach them for sure.

I am glad I found these forums, too! Free credit consolidation from experienced card users.

Re: My 15 year old daughter has a 801 Credit Score O.O

Anonymous — Wed, 14 Jan 2015 05:56:32 GMT

@Anonymous wrote:
I'm wondering how you were able to get her report from CK. I tried to sign up my 17 year old sister since she's been an AU on my Discover card for a while now and CK said you must be 18 years and 1 month old to make an account with them.

Just altered the birthday but it still went through with no problems. Asked me some verification questions but went through with no problems

Re: My 15 year old daughter has a 801 Credit Score O.O

Anonymous — Wed, 14 Jan 2015 08:42:37 GMT

Not to be a Debbie Downer, but this is how I got into serious CC debt. I had an inflated credit score due to being an authorized user on my parents' card. I got a student card that eventually had a $15k limit when I had little to no income. I moved to NYC, didn't wind up getting a job with the salary I expected, and the rest is history.

Re: My 15 year old daughter has a 801 Credit Score O.O

Anonymous — Wed, 14 Jan 2015 08:55:47 GMT

@Anonymous wrote:
Not to be a Debbie Downer, but this is how I got into serious CC debt. I had an inflated credit score due to being an authorized user on my parents' card. I got a student card that eventually had a $15k limit when I had little to no income. I moved to NYC, didn't wind up getting a job with the salary I expected, and the rest is history.

I'm not saying that your parents didn't teach you well, it may have just been situational, but I think it's a two part thing. One part is getting your kids score up, and the other part is teaching them fiscal responsibility to use it wisely. My stepbrothers had this done for them, but they were carefully hounded by my stepmother to spend wisely and work hard. My 20 y.o. stepbrother was working as a mason's apprentice while having in excess of 50k or 60k in credit that he never touched. He always joked that he was gonna go by a small bulldozer to make the interminable digging easier, but it was always a joke. He just put his head down and worked hard everyday and never once splurged.

It seems like OP is trying to teach the same lessons to his daughter along with the CL. She was encouraged to purchase the Xbox and pay it off quickly.

Re: My 15 year old daughter has a 801 Credit Score O.O

TiggerDat — Wed, 14 Jan 2015 08:56:19 GMT

So in three years she can cosign on a nice new house for all of you...