What Age Can You Start Building Credit as a Child?

At What Age Can You Start Building Credit as a Child?

Starting early can yield untold benefits as you age and have evolving credit needs for purchases like a new car, house or even starting your own business.

What is Credit?

Credit can come through fixed term loans, revolving credit lines, variable interest rate loans, as well as other borrowing/lending arrangements.

Your credit score usually falls in a range between 400 – 900, though alternative models exist with slightly different ranges. Higher scores indicate better credit and can make you a prime borrower, whereas lower scores place you in the subprime borrower category.

What is a Credit Score?

- Timely Payments - Credit Utilization Ratio - Credit History - Credit Diversity (Mix of Credit Lines) - New Attempts to Access Credit (Inquiries)

What Goes into a Credit Score?

A credit report is a statement which presents all the information pertaining to your credit activity, including past loan payment history as well as current credit accounts which you pay.

What is a Credit Report?

You can never have too many options, so when it comes to ordering your credit reports, annualcreditreport.com has you covered. That means that if you’re in the mood for pulling one report, two or all three, each is available with a few clicks of a button or taps of your finger!

How Often Should You Check Your Credit Report?

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