Who here owns a new adult? 👉😬
The moment my man-child turned 18, we applied for a cc with NFCU. We opened a banking acct with them about 4 yrs prior to establish a relationship.
They approved him for a $500 unsecured cash back card. In 6 months, they increased the limit to $1,000. We are now at the 1 yr mark and he just got an increase to $5K and they upgraded him to a Visa Signature while lowering his APR to 12%.
He officially has an EX8 credit score now - 743. 🎉
He has no idea cause he's in boot camp. So, here I sit.. opening his mail.. which I believe is a federal crime. 🤦♀️
That is HILARIOUS!!!!! And awesome at the same time. Congrats on laying that great foundation!
@Hut1 I wish my parents did this for me, I know when i have kids someday hopefully that I will do everything I can to set them up for financial succcess when they turn 18
@805orbust wrote:
It would be great if he knew what an accomplishment this is and how many actual adults are fighting to get there. I'm also sure he'll erase all of my hardwork with stupidity, but he's young... he can bounce back.
In fact, I just found out boot camp has been extended 2 weeks to teach financial responsibility which is clearly very needed. I need an "I told you so" moment to hold over his big goofy head. lol
@mfinsmi1 wrote:@Hut1 I wish my parents did this for me, I know when i have kids someday hopefully that I will do everything I can to set them up for financial succcess when they turn 18
Saaaammmeeee!!! I didn't even own a credit card until my late 30's. I can also say I didn't learn about debt until my late 30's. 
#fail
Its an awesome thing to do for them. We had ours (21, 20, 18) as AU's for at least 4 years before they turned 18. Now they've got their own cards/accounts but so far it seems they take it seriously. The Mrs and I have a standing threat to their safety if they even think about screwing it up. Good job. 
@805orbust wrote:Its an awesome thing to do for them. We had ours (21, 20, 18) as AU's for at least 4 years before they turned 18. Now they've got their own cards/accounts but so far it seems they take it seriously. The Mrs and I have a standing threat to their safety if they even think about screwing it up. Good job.
Oh, man. I thought I was the only parent that threatens bodily harm.
@805orbust wrote:
@Hut1 wrote:Oh, man. I thought I was the only parent that threatens bodily harm.
@Hut1 oh no... there's 2 of us! 🤣 A little fear never hurt them, me on the other hand? 🤣
Ya'll are a hoot. I did get the fear speeches and still managed to muck it up from 18-22. I thought I knew any and everything those years. Wish I knew at 18 what I now know at 43. They shoulda been scarier 😂😂 with me.