Images By Tang Ming Tung | Digitalvision | Getty ImagesParents who want to help jumpstart their kid's credit score and credit history can take one fairly easy step, money experts say: Add your child as an authorized user to your credit card account.
The goal is to have a child build credit from a relatively early age by piggybacking off their parent's — i.e., the primary account holder's — good credit.
watch nowParents can think of it as a "stepping stone" to building credit, he said.
Allowing kids to use a credit card — and showing them how to pay off the debt responsibly — can also "help them learn healthy credit card management skills early on," said Andrea Woroch, a consumer finance expert.
Why building credit is importantThings to considerMihailomilovanovic | E+ | Getty ImagesParents should only try this authorized user strategy if they themselves have good credit, experts said.
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