You Ask, Equifax Answers: How Can I Teach My Children Good Credit Habits?
When’s the right time to start teaching your children good credit habits?
As you get older and enter different stages of your life, you'll have different financial needs and wants, and your credit scores and reports can help benefit you. If you're seeking higher education, you may need to take out student loans and explore the student loan options with the best loan terms, including best interest rates, available to you. Perhaps you're getting ready to buy your first house or car and need to explore the best mortgages and auto loans to help you find your dream house or car. Before these major life purchases, it is a good idea to look at your credit reports to make sure that the information in them is accurate and complete, so that lenders can make well-informed decisions when evaluating your creditworthiness. Maybe you're considering co-signing a loan for your child or want to act as a guarantor or add them as an authorized user on your credit card so they can start building up their own credit history. If you're looking forward to other major milestones like paying for your child's college education, possibly taking out a second mortgage or purchasing a vacation home, you'll want to learn more about your loan options to help you make the best choices. No matter where you are in life or where you're heading, there's always financial options to explore and discover the best loans, mortgages, and rates for you and your family.
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You Ask, Equifax Answers: How Will a Divorce Affect My Credit?
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