Q: We're trying to help our 22 year-old daughter establish credit and start building a responsible credit history. What should we advise her to do?
A: One easy way to establish credit and create a credit history is a secured card, where the credit-holder sets aside a designated amount as collateral. That same amount serves as the limit on the card. Another option is to apply for a low limit card. Making a few small purchases and paying the balance in full each month will help her establish a sound record and launch her on her way to a healthy credit score
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