Worried about your child leaving home to move into their own New York apartment? Wondering how you can help make this as easy as possible? Taking care of your child’s health and safety is part of a parent’s responsibility. Credit rates affect our financial future; therefore, it makes sense that you can start protecting your child’s future by helping them build their pride. If you are wondering how to do it, keep reading.

The easiest way to help build your child’s credit is to make them an authorized user on your credit card. This is different from the credit building process in that you don’t need to be 18 or have money. In many cases of authorized personnel, there is no minimum age requirement because they are not responsible for the payment. An authorized servicer gives that person (your child in this case) access to your good credit report. While it doesn’t have the same power as a traditional credit building system, it’s certainly a good start. Bonus: you won’t give them a credit card until you think they’re responsible enough to manage one.

Once they turn 18, there are other opportunities for you, the parent, to help them grow financially. If you can, you can apply for their first credit card, car loan, or student loan. Just know that the responsibility to pay is yours if they can’t do that themselves, so make sure you’re comfortable with this option. If you’ve experienced a credit setback of your own, there are other tools you can use as well. Consider secured credit cards, credit cards, and other credit cards as options.

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