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When to Start Monitoring a Child's Credit Report
Identity theft is on the rise and it is important that all consumers stay diligent and check their credit report often for erroneous information. However, did you know that children can even be the victim of identity theft, and their credit report can be negatively impacted even if they aren't old enough to have their own credit cards and loans? Since children have no credit history, identity thieves will steal their Social Security numbers and open accounts with different names and other identifying information. The accounts will still wind up on your child's credit report and can ruin their credit before they are even in high school.
So, when should you start checking your child's credit report? There is no time like the present. By checking your child's credit now, you can identify any issues and dispute erroneous information right away. This will ensure that your child won't have to deal with any problems once they turn 18 years of age and are ready to being handling their own credit. There is nothing more embarrassing than being turned down for a loan or credit card, especially when the reason for denial isn't even your fault.
If you have questions about your child's credit report or your own, we can help give you the answers you need. We have provided a list of the top ranked credit repair companies working in the United States for you to browse and find the one to best help you achieve your financial goals.