Just happened to see on MSN money a question from a parent…

Q: My wife and I both have good credit scores (708 and 734) and are considering putting our 7-year-old son on a credit-card account as an authorized user so that he can start establishing his credit profile now. My question is, am I allowed to put him, at age 7, on the account as an authorized user? If not, how soon can I start establishing credit for him?

Can you believe this? Why would anyone consider giving a 7 year old a credit card? I can imagine the bill for the sweetie shop.

I guess they are just thinking of getting him a credit rating rather than giving him a card to use but I still find it astonishing. What sort of world do we live in when someone feels this might be a good thing to do?
Here’s the link if you need to read the answer. MSN MoneyÃ’Â

Money Magic: Seven Simple Steps to True Financial Freedom (Quick Reads)

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