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Wondering if Child credit monitoring is necessary for my son who is 15 and just worked his first offical job this summer? My wife seems to thiink that this is not necessary as it could draw unwanted attention. Could she be right? And by the way I've been trying to tell her to do the same for years now but she won't or hasn't got around to it or something. Also, is it a good idea to have my credit cards monitoried through my monthly service if they offer it?? Thanks!
Why not just freeze your kid's three credit bureau accounts? Where I live it is about $10/CRA and it lasts indefinitely until you lift the freeze.
With the freeze in place, nobody can get an HP for new credit without you lifting the freeze with your PIN code you assign.
Way cheaper than credit monitoring and more effective, too. Prevent the new credit from happening rather than being alerted to it after the fact and possible damage is done.