Is Credit Hereditary ?

Credit Repair Houston Expert Vanessa Perry explains in the Ask Impeccable episode below if credit is hereditary explains the facts on how parents can help or hurt their child’s credit.

How early can credit be established?

Credit is something that is meant to be established when someone is an adult (18+). Often times parents have the intent to build their child’s credit when they are younger. The reason can be with good intent or because they cannot qualify for themselves. Many parents want their child to have established credit when they turn 18. The child would then be able to qualify and purchase things with their own credit. The true answer is credit can be established whenever someone has a social security number. Even from a month old parents can begin establishing credit.

Is Bad Credit Heredity ?

As mentioned some parents try to establish or put things in their child’s name before they are 18. In most cases this hurts a child’s credit both short and long term. In the case that the parent forgets or is unable to pay something that is under the child’s name, it will negatively hurt their credit short term. Long term effects are when the parent helps build the child’s credit, but does not teach their child how to maintain their high credit status. This can hurt the child long term by starting out with a high credit score but not having the skills to maintain their score when they start paying for their own bills.

Credit Repair Houston

When a child is 18+ they have the right to establish their own credit and financial future. Everyone makes mistakes, but bad credit is not something that has to be passed down from generation to generation. Impeccable Credit Services is able to assist with any credit mishaps no matter if it is from you or your parents mistakes.

Credit Education

Credit education is the key to success. If someone is not educated on credit they tend to make the same mistakes repeatedly without knowing how to fix the problem. With Impeccable Credit Services we educate our clients and make credit a priority. We make sure they understand how to manage their credit for their future success. The reason being is that if you do not understand how credit works you cannot have your credit work for you. We are all about credit education and love educating clients and their children on how to Be Impeccable with Impeccable Credit.