under 18 with credit

Discussion in 'Credit Talk' started by brian, Feb 8, 2001.

  1. brian

    brian Guest

    i have a very big problem I have just found that my 16 year old son has over 11 credit cards apparently he has lied about his birthday and said that it was 10/1/1972 and the correct one is 10/1/1984 he like a 4500.00 on one of his credit cards he got his 1st one on april 1999 but he does pay the bills has never been late and has had a balance of 2000.00 before and still paid it should i just continue letting him use if pays the bills or what will the birthday hurt him when he ever applys for a mortage or loan or what

  2. sam

    sam Well-Known Member

    1. The incorrect birthday can hurt him. But you can do more damage to his credit, which if he is handling well, you should be proud of him.

    Eventually, you can provide proof (dl,birth cert) to the credit bureaus and alter the records to reflect the correct status.

    but in the best interest of your kid, don't call up the companies and complain to them, they could press fraud or forgery charges on your 16 year old.

    17 is treated as an adult in georgia, and his butt could be in jail.

    You also don't want to get a "FRAUD" warning put out on his report, hurting him for years as well..
  3. Erik

    Erik Well-Known Member

    I wouldn't let him continue to use them. I would have him pay off the balances and close them as soon as possible. Or if you can loan him the money pay off the balances and close them and have him pay you.
  4. jamie

    jamie Well-Known Member

    He must have gotten these cards on-line I presume? Has he ever signed anything to obtain these cards? Lying is one thing, you can blame it on computer error, but lying in writing is another and when used to obtain credit is punishable by law. Does he know what the consequences are for fraud? If this were my kid, I would take the cards now, and close them. Transfer the balances to one card. And monitor the acct to make sure he's paying them. The damage is already done whether he pays or not. When he's 18 and wants to buy a car, they will want to know why he had 11 accts 4 years old. In our state, the parents are responsible for kids under 18. Are you prepared to get stuck holding the bag if he decides not to pay?
  5. Sorin

    Sorin Well-Known Member

    I'm not a lawyer, but him being a minor, I think he cannot enter in a legally binding contract. So practically the banks cannot collect the money from him if he ever decides not to pay. I'm not sure what can happen to you, since the parents are supposed to be responsible for their minor children deeds.

    What I think it's the best way of dealing with this is have him pay off all balances ASAP. Then close all accounts. When he turns 18 have him dispute the date of birth with the CRAs. With luck, he'll have a clean credit report with some good accounts on it.
    I don't think the banks will make you any problems, considering that the accounts were payed and closed in good standing some years ago.... even if they realize that something is wrong, it's counterproductive to initiate any action.

    I think that's the best way to avoid some serious fraud charges when he grows up. And it would be a good idea to consult a lawyer...

    Good luck
  6. Sorin

    Sorin Well-Known Member

    Just a note to the above... how the hell did your son manage to have 11 credit cards and even pay them regularely without you even knowing it? Unless he's not living with you...
  7. Savy Sal

    Savy Sal Guest

    This sounds like a bogus post to me!

    How is he paying for these cards at 16?
    Does he have a job!
    He would need a checking account.

    bunch of bull
  8. Greg

    Greg Guest


    Sound phony to me, too! It would be more believable if it was, maybe, one card. 11 is over the top! I'm sure there would be declines because of too many revolving lines.
  9. John Shimm

    John Shimm Guest

    I don't know why everybody is suggesting that he close the accounts. That's stupid.

    He's paying them on time. He's building credit, even if he has to dispute the birthdate later.

    Have him agree to let you keep the cards. Let him pay them off. Leave the accounts OPEN -- when he hits 18, he'll have a great base on which to build on.
  10. Erik

    Erik Well-Known Member

    John, I agree that the kid (if this post is true) is probably building a great history and that closing these credit cards would lower his credit scores.

    I suggest closing it because of my prejudicial belief that 18 is way too young to have good credit. Also I would be concerned about the fraud type of legal implications that might happen if this 16 year old happens to default.
  11. jamie

    jamie Well-Known Member

    Not to mention, a 16 year old knows everything about everything, until they turn 18 and are welcomed into the real world. Then, its just not their fault, they didn't know.
  12. mvfl

    mvfl Guest

    No way should he be allowed to keep those cards! An 18 year old with 11 credit cards that have open limits of probably over $30,000 is a DANGEROUS thing. That's the reason kids under 18 can't get credit. That's also the reason that most 18 year olds can't get a high credit limit to start. They have to earn it over time as they learn how to use it properly. Obviously if this kid is dishonest enough to commit forgery and fraud, the last thing he needs to worry about is his credit rating. He should be concentrating on staying out of jail. I think the cards should be cut up and closed. Then when he's 18 he can start earning his credit honestly like the other kids his age.

    If he continues using these cards and the limits get high enough, he could be prosecuted by the banks if they find out his real age. This is a SERIOUS matter and I don't think it would be too trivial for the bank to overlook. Especially if he defaults on the payments. Just cause he pays them now doesn't mean he'll be able to next year or next month. What 16/18 year old has job security.

    Get a clue!
  13. jamie

    jamie Well-Known Member

    notice that this person that need help so desperately hasn't posted again. I'm beginning to think this is a bogus post too.
  14. me

    me Well-Known Member

    It's got to be bogus! How can a parent miss 11 monthly statements in the mail from credit card companies. They all have the 'bill look'...
  15. Alwilda Sm

    Alwilda Sm Guest

    It may be a bogus post, but I had a J. Byrons card (if anyone is old enough to remember them) at age 17. And I may have got a MWARDS card at 17, if not 18.

    -Alwilda Smith
  16. jamie

    jamie Well-Known Member

    I had store credit (before plastic) at two local exclusive dress shops when I was 15. They took my babysitting money as income. God, now I feel old!!! But those were the days when your name and your business meant something to local merchants.
  17. brian

    brian Guest

    he does have a job and a checking account and has never been late in 3 years
  18. brian

    brian Guest

    excuse me! this is not a bogus post my son does have 11 credit cards and the reason this is because he has a po box where we life and the post master let him have it and by the way he does not owe not one penny on his cards charges maybe 20 or 30 dollars a month on them and that is it.

    Like I know that he will never be late but if he is not will he still have problems with a house loan in the future

    Could he dispute the birthday w/ the credit beureas ( I think) to put the right one in or could you just call them


  19. sam

    sam Well-Known Member

    just let him be, when he turns 18, have him dispute the birthday on the reports to show 18.

    Treat your kids like adults, and they act like adults. I'd suggest one thing, monitoring his bills, so he doesn't pay late.

    He probably reads this message board too, give the url to him, so he can learn about the mistakes he might make in the future.

    good education is the key to credit. Sounds like your kid is real smart and pretty mature if he hasn't screwed up yet.
  20. Chet

    Chet Well-Known Member

    "Never late in three years" - so he started getting these cards when he was only 13!


    I find this a little hard to buy!

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