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[quote=Anonymous][quote=Anonymous][quote=Anonymous]

You want to improve your credit score? Keep your accounts open for a long time, don't apply for new credit frequently (hint: open and close accounts on the same day if you have to), and pay off your bills on time.[b] Double Pro tip: have kids? Add them as co-signers on your card; depending on the bank this may or may not be reported to the bureau, but if it is, tada, your college graduate has a 750 FICO.[/b]
Source: my day job
[/quote]

More info, please!  What age can you do this?  Does it affect things like if they apply for financial aid for college? Do you just ask the bank if they report the co-signers?[/quote]

It varies across banks and products. I know the Bank Fund FCU did this, so if you have access to that, maybe start there. The usual way you can figure it out is if they ask for a SSN. If they do, usually it means they are reporting it to the agencies. The other way to check is to see if the person you add is in fact responsible for the debt (listen to or read the disclosures). IF so, its reported. If not, its generally considered an authorized user, in which case it isn't. Asking the $12 an hour agent on the phone is hit or miss, but you can always add someone as an AU and then pull their credit 3 months later and see if it appears.

I dont know about financial aid for college, not my expertise, but I would be surprised if the possession of a credit card would impact a kid's ability to get financial aid. [/quote]

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