Let’s talk about something we wish we were taught earlier—credit. This week on Experian’s #CreditChat, we focused on setting up our teens and college students for credit success. As someone who taught her daughter how to use a credit card before she ever stepped foot on campus, I’m passionate about starting these habits early. Here’s what we covered—and what every young adult (and parent) should know:
👩🎓 Why Start Early?
A1: The earlier you build credit, the better your length of credit history. That’s why I recommend starting smart and safe—like becoming an authorized user or opening a student card that reports to all three bureaus. Credit is the foundation of financial wellness.
👨👩👧 How Parents Can Help
A2: Parents, use everyday opportunities like allowance or gas money to teach about borrowing, repaying, and budgeting. It’s not just about handing over a card—it’s about conversations, responsibility, and learning together.
👥 Authorized Users: A Teaching Tool
A3: When I taught my daughter about credit, I added her as an authorized user on my card. She used it for gas, kept her receipts, and we reviewed the statement together monthly. It was a safe way to teach real-world habits with real accountability.
💳 Choosing Your First Credit Card
A4: Start with a secured or student card that reports to all bureaus. Skip the rewards hype for now—this card is about building habits, not spending. Simplicity is key.
🚫 Avoid These Common Mistakes
A5: Young people often think they can spend now and worry later. But missing payments, maxing out cards, or ignoring credit altogether can hurt early on. Learn the terms, respect your limits, and pay on time—always.
🎓 Student Loans and Credit
A6: Each semester’s loan can show up as a new tradeline on your credit report, so student loans do help build history. Just make sure you understand when repayment starts and track those due dates like your GPA depends on it!
📚 Know These Credit Terms
A7: Focus on due dates, APR, and always aim to pay in full—skip the minimum payment mindset. These basics are the keys to staying out of trouble and building healthy credit habits.
🧠 Budgeting for Credit Smarts
A8: Budgeting isn’t a restriction—it’s empowerment. Tracking your spending helps you stay in control, avoid debt, and build credit the smart way.
🔍 Busting Credit Myths
A9:
- Myth 1: “I don’t need to pay it back.” Yes, you do.
- Myth 2: “A debit card is the same as a credit card.” It’s not.
- Myth 3: “I can wait to build credit.” Don’t. Your future self will thank you for starting now.
🧭 My #1 Credit Tip for Young Adults
A10: Be the boss of your credit. It’s a powerful tool that can unlock your dream life. Build it with care, pay on time, and don’t be afraid to ask questions. You’re not just building a score—you’re building confidence and financial freedom.
Thank You to Experian
Huge thanks to Experian and all the amazing #CreditChat panelists for another week of empowering conversation. Credit doesn’t have to be scary or confusing—and starting young gives you the ultimate head start. 💥
Let’s keep educating, empowering, and building healthy credit—one smart decision at a time.
