33 answers

Using Your Children's Information to Establish Credit

we sat thru a seminar today and the speaker said he has established credit cards in his children's names. They around probably 4 and 6 years old.

He is doing it to create credit history for them, and presumbly, make them money to have when they are older.

Do you think it's okay to use their information to establish credit for your own use?

What can I do next?

Featured Answers

How does you having a credit card "make them money"?

How do you use a minor's SS# to obtain a credit card legally?

The answer to both questions is: Impossible.

Report this dolt.

10 moms found this helpful

That sounds an awful lot like credit card fraud and identity theft to me. And highly illegal. Like, Federally criminal acts.

8 moms found this helpful

They have from 18 on to establish their own credit history. I don't see how he would be 'making them money' is this manner either... If I heard this in a seminar I would dismiss everything else this speaker had to say.

6 moms found this helpful

More Answers

No. Absolutely not. No way.

10 moms found this helpful

How does you having a credit card "make them money"?

How do you use a minor's SS# to obtain a credit card legally?

The answer to both questions is: Impossible.

Report this dolt.

10 moms found this helpful

No, it's ILLEGAL. What an idiot. Report the guy, and tell whoever booked this speaker to not hire him again.

9 moms found this helpful

That is what is called identity theft. The ONLY person who can legally open a credit card in your name is YOU.

Please report this dude.

Edited to add: Adding a child as an authorized user of a credit card established in YOUR name is ENTIRELY different than opening a credit card in a child's name. Doing the first is legal, doing the second (especially if you are actually USING the credit card to buy stuff) is HIGHLY illegal as well as morally wrong.

9 moms found this helpful

No, that would be fraud. The speaker was giving you some very bad information. Establishing credit in your child's name for your own use is fraud and could result in criminal prosecution. Trying to establish a credit history for a young child is a bad idea.

8 moms found this helpful

That sounds an awful lot like credit card fraud and identity theft to me. And highly illegal. Like, Federally criminal acts.

8 moms found this helpful

Please REPORT THIS SPEAKER to any and all authorities -- the cops, the fraud squad, the banks. What he told you to do is illegal and even if you're not caught it's just stupid too. Once a child has a credit card, that child's name will end up on a million mailing lists and is out there in the world as a name with credit attached to it -- making it much, much likelier that the child's name could be stolen or otherwise used fradulently. That would ruin the child's name for credit purposes and the child would have to fight hard as an adult to get his or her good credit back. This does not help them -- it only hurts them. Report this fraudster immediately. I hope this was a free seminar because if you paid for it -- you were ripped off!

7 moms found this helpful

They have from 18 on to establish their own credit history. I don't see how he would be 'making them money' is this manner either... If I heard this in a seminar I would dismiss everything else this speaker had to say.

6 moms found this helpful

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