Marvin Nathaniel Smith JR talks about college kids learning about their credit reports

It should be a known concept that children should learn about credit reports way earlier than time, so that when they do enter the college world, they are already very much aware of it, and form an opinion of their own as to how they should and they can deal with their money matters.

Once college is reached, teens and adults want to be feeling more and more independent, therefore it is better to teach them earlier.

How can college kids learn about their credit reports?

Here are a few ways to make college kids learn about their credit reports. These tips will make the plan of action much easier for the college kid in question.

He or she can become an authorized user. 

This will be the initial step of the learning process.

He or she can open a student credit card.

This will give them the confidence and independence for the future.

He or she can open a secured credit card.

This can lead to better decisions that they can make for their near future.

He or she can get a cosigner

This will keep someone in the loop yet give the college kid the authority and confidence. 

He or she should not apply for many multiple cards at one time 

They should wait and do everything one at a time rather than jumping into it right away as this can confuse them easily.

He or she needs to and must maintain a history of payment that seems commendable to the eye

This will make sure their credit report turns out to be just the way the parents would expect for them to.

Spending responsibly would also bring about a good learning process for him or her

This would make sure they have a good experience and do not end up hating the entire process. 

Discuss with your kid and do not hold back


Sometimes it could feel like a process to actually be discussing the entire process however it is better that one does discuss these things because even though the kids might seem to be irritated at first but at the end of the day this would turn out to be a good enough reason because your kid would not end up going to the wrong people for advice.

Make sure you are discussing your past experiences with your kids

Your child will be feeling low in confidence at first because that is how it feels to enter the money world however you shall discuss your past experiences and tell them what you did, and what could have gone wrong, and what went wrong, and last but not the least how you managed. 

There is always a helping hand that your kid would need even if he or she thinks they are old enough since they are now in college.

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