2007-01-05 01:54:33 · 5 answers · asked by randallcoleman67 1 in Business & Finance ➔ Credit
Poor advice in the previous responses.
It's very possible for a minor to have an established credit history prior to being 18.
Several months ago I was talking to a client about how important it was to monitor their credit. They had a 16 year old daughter, so out of curiosity we pulled their history and discovered a negative item from a credit card she didn't own.
Naturally they panicked until I showed them how easy it was to get it removed....all set now.
Yes, you do need to monitor minor's credit reports! Ignore the previous answers. Go to http://www.annualcreditreports.com and get it.
2007-01-05 03:06:47 · answer #1 · answered by Anonymous · 0⤊ 0⤋
BankRate.com just posted a special series on Child Identity Theft and what you can do to monitor and prevent it. A lot of the techniques are similar to what you would do to protect yourself.
2007-01-05 05:53:52 · answer #2 · answered by CMass Stan 6 · 0⤊ 0⤋
You don't have to worry until they are old enough to start applying for credit cards or loans. Once they are old enough to actually have credit they can check Equifax or the other credit agencies to see what their score is.
A lot of kids are in danger from their parents. A friend of mine had his mother getting credit in his name and running up the bill. He couldn't get any help for the longest time and eventually had to move out and get a lawyer. Just becareful about where the birthcertificates and social security cards are.
2007-01-05 02:12:02 · answer #3 · answered by Sugarshots 4 · 0⤊ 0⤋
It is impossible to protect anyone from identity theft.
2007-01-07 17:35:03 · answer #4 · answered by luciousgreeneyedlady 5 · 0⤊ 0⤋
Well if they don't have a credit card(depending on age), or bank account, you have nothing to worry about.
2007-01-05 02:00:55 · answer #5 · answered by heaven_forsaken_dark_poet 3 · 0⤊ 0⤋