Establishing Credit
My 21-year-old grandson needs to establish a credit report. What is the simplest way to accomplish this? He does have a full-time job.
Thanks for any suggestions. I love you on WGN Radio.
Diane Brady
Terry Says
I have two easy solutions for that.
The first is a “student card” — and you can search at CreditCards.com — here is the direct link to that page. These cards typically offer cash back rewards.
If for some reason he doesn’t qualify, then you can open a secured card account, with a deposit at the issuing bank. That savings account becomes his line of credit. Here is a link to secured cards at Bankrate.com.
In either case, he should be very careful to pay his bills in full and on time every month. That’s how you build good credit.
