Low Interest Credit Cards

Oh, credit cards — they inspire many a woe and even more questions. Here are some of my favorite bizarre credit queries that were posted on Yahoo! Answers along with my answers to their problems. Jeffy asks “New baby is on the way, any way to get credit card to improve his/her credit?”A: And just to think — it used to be that signing up an unborn for the best prep school was the trendy thing to do.  Arming junior with a credit card prenatally isn’t necessarily the best way to improve your child’s credit — I’d start with personal finance picture books or a piggy bank. While there is no minimum age requirement to add your child as an authorized user to your credit accounts, the ultimate decision to allow a child to piggyback is up to the lender. Even if lenders do allow a child to access a parent’s account, they may not actually be building a credit history. An authorized user has permission to use someone else’s credit card account, but is not responsible for paying the bill. Read more…