Whoa There Almost Homeless Guy

Yes, I am raising a child. I just bought a house and my mom would not co-sign a credit card with me.

I wish she did, because it was extremely difficult for me to establish credit on my own, in our current political state.

I just helped Amy's sister apply for a card and co-signed for her, because she needs to do the same thing and establish credit. Why is it so hard for people to understand that giving your children an idea of how to build credit and give them an understanding of that aspect of their life is a good thing? Building trust with your children is not a bad thing.

If you are afraid of them maxing out a credit line of $400, take it away and make them pay it off. No creditor is going to issue a card to a new line for any more than $500 on a limit. Having a good credit score is directly related to establishing yourself and directly related to becoming responsible with reward. I only wish my mother would have seen that and helped me out. I could not afford to go to college.