Consolidating credit card debt affect on credit rating

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If your parents’ credit score is high according to Fair, Isaac, and Company (FICO), you can consider them to assist you with a credit card in your name but using their account.

Show responsibility by opening a checking or savings account, maintaining a consistent balance.

In 1996, twenty-something consumers owed an average of ,400 on their credit cards, nearly triple what they owed in 1990, according to research by Claritas Inc., a marketing research firm in Virginia....

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If information such as names and addresses, credit and debit card numbers or other account numbers falls into the hands of an identity thief, the consumers, business, as well as all businesses associated with the compromised information, could suffer endless financial repercussions as well as damage to their reputation....[tags: Finance] - When it comes to learning about credit cards, most people do not expect to hear that it can effect a persons overall emotion and wellbeing.By having a credit card close at hand people are able to spend money knowingly but do not realize the implications from their choices.[tags: identity theft, credit cards, chip technology] - ...One if you are living at home with your parents, they can co-sign on a student loan, put a house bill in your name, such as the power bill or water bill.

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