2006-10-02 16:03:35 · 7 answers · asked by Anonymous in Business & Finance ➔ Credit
yes a minor can establish a credit.
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2006-10-02 16:07:54 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Yes and do so wisely. Start out with like a health club membership or a video rental card. Credit cards are useless for everything exept confirming a reservation which you should pay for with cash/check. Establishing credit is a good goal to have but do not take advantage of it until you have the finances to make yourself solvent at a moments notice. You can have a credit rating for your whole life, but one bad crisis that didn't occur to you can wipe it all away. Once your there, like I am now, it's like trying to get a loan to buy a lollipop--no one will help you. Be smart--talk to your folks--good luck.
2006-10-02 23:15:12 · answer #2 · answered by scottyurb 5 · 0⤊ 0⤋
no. Even though a minor can hold something like a credit card, in most cases, the card must also be signed to an adult. I have a credit card and it has 2 names on it, mine and my moms. So i believe the adult is held responsible.
2006-10-02 23:11:50 · answer #3 · answered by Rtoups 3 · 0⤊ 0⤋
In my lectures, I tell people I can make a 16 year old look like they were born with credit. And I can. See below.
2006-10-05 03:11:40 · answer #4 · answered by supercreditguru 3 · 0⤊ 0⤋
Yes, all that needs to happen is for a parent to co-sign.
2006-10-02 23:11:44 · answer #5 · answered by Athletic Trainer 3 · 0⤊ 0⤋
No. You have to be 18 to be held responsible for debts.
2006-10-02 23:06:39 · answer #6 · answered by Amy >'.'< 5 · 0⤊ 0⤋
via their parents, yes.
2006-10-02 23:10:51 · answer #7 · answered by Anonymous · 0⤊ 0⤋