What's new
Fantasy Football - Footballguys Forums

Welcome to Our Forums. Once you've registered and logged in, you're primed to talk football, among other topics, with the sharpest and most experienced fantasy players on the internet.

Helping College Kid Establish Credit (1 Viewer)

James Daulton

Thought I'd share something we did for my son.  When he was starting his junior year in college we opened a discover card in his name.  Discover matches the first year cash back bonus for new members.  He didn't carry the card I did and I used it like I'd use my own credit card.  The limit started very low ($1k) but grew to $2.5k by the time he graduated.  When he graduated we gave him the card, two years of good credit history, and almost $1k in cash rewards on the card.  He's been good with the card in the intervening year and now has a credit rating of 760.  He'll have no problem getting very favorable rates when he wants to buy a car, house, etc.  

We're just getting ready to do the same for my daughter who'll be a sophomore in college. 

Discover IT is a good starter card. 

Regular chase freedom is a nice second one. 

Keep utilization low in month before a loan or card app.


Users who are viewing this thread