And no, it's not so she can have endless cake pops from Starbucks.
A friend of mine is 36, but he has a credit history of 43 years...
When he applied for a home loan, he was accused of fraud 😂 . But it was perfectly legal.
How?
He was an authorized user on his parent's Amex. And this is exactly why we just added Emilia to one of our credit cards. It's never too early to build credit and this will give her a head start later in life.
After income, credit is the number one factor when qualifying for a loan and increasing a credit score as little as 50 pts can be the difference in $50k over the course of a $500k loan.
Until next time,
-Patrick PS - If you or anyone you know, need to buy or sell, would you please introduce us? I promise I will take great care of them! |