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The most conventional way that people start building credit is by taking on a credit card or loan, but one has to be at least 18 to do this. However, you can build your child’s credit even before the age of 18 by making your child an authorized user on your credit card. The credit card company will issue a second card in.
A low credit score has the greatest impact on your housing. The likelihood of being approved to rent or buy a property with a low credit score is slim to none. Allowing people with low credit scores to move into their property is highly risky for the lender.