Talking to your teen about their credit report

Talking to your teen about their credit report

RICHMOND, Va. (WWBT) - It’s a major milestone for mom and dad: your child turns 18! And there’s one thing you should have them do, not only for peace of mind but for financial security moving forward.

If your child is turning 18, pull their credit report for them. Show them how to do it and have them look at it with you.

Cherry Dale with the Virginia Credit Union tells us she always encourages parents to do this.

It's a simple, yet valuable step. There's probably not going to be anything on there, but Cherry says you'd be surprised how many people end up finding out their child's identity was stolen.

“So, it’s just something that you want to be aware of and you can do that and pull it for free at AnnualCreditReport.com. " said Dale.

Hopefully, the report is blank. A clean slate makes a great opportunity to steer the conversation toward credit card responsibility.

It’s never too early to learn how the system works, why your credit score is so important and why you should pay off your credit card in full each month.

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