How to Check Your Child’s Credit Score
Learn how parents can proactively check their child's credit report to safeguard their financial future and prevent identity theft.
While credit scores are typically associated with adults, parents may find it necessary to check their child’s credit report to safeguard their financial future. Understanding how to access and interpret this information can be a proactive step in protecting a child from potential financial harm.
Understanding a Child’s Credit Profile
A child rarely possesses a credit report or score, as these financial records generally begin accumulating with independent financial activities like opening a credit card or taking out a loan. One common way a child might acquire a credit report is by being added as an authorized user on a parent’s credit card account. This action can help build a positive credit history for the child if the account is managed responsibly.
Conversely, the presence of a credit report for a child can also be a red flag, indicating they have become a victim of identity theft. Fraudsters use a child’s clean Social Security number to open fraudulent accounts, obtain loans, or secure employment. A credit report serves as a detailed record of an individual’s credit history, making it an important tool for detecting unauthorized activity. Early detection can prevent significant financial complications for the child as they approach adulthood.
Information Needed to Request a Child’s Credit Report
Parents will need specific identifying information for both themselves and their child to verify identities and guardianship. For the child, this typically includes their full legal name, date of birth, and Social Security number. Proof of identity, such as a copy of their birth certificate, and proof of address, like a recent school report or a medical bill, will also be necessary.
The parent or legal guardian requesting the report must also provide their own comprehensive identification. This includes their full legal name, Social Security number, and current residential address. A government-issued photo identification, such as a driver’s license or state ID card, is also required. If the individual requesting the report is not the biological parent, official proof of guardianship may be needed.
Steps to Request and Review a Child’s Credit Report
Contact each of the three major credit reporting agencies: Experian, Equifax, and TransUnion. These agencies maintain separate databases, and each must be contacted individually to obtain a comprehensive view of a child’s credit profile. The process for requesting a minor’s credit report typically involves sending a written request by mail, as online portals are designed for adult consumers.
Each credit bureau provides specific forms or detailed instructions on their websites for requesting a minor’s report, which should be downloaded and completed accurately. The mailing package should include the completed request form along with photocopies of all the required identification and proof of guardianship documents. Sending these documents via certified mail with a return receipt can provide a record of delivery. Processing times can vary, and bureaus may request additional information if the initial submission is incomplete.
Upon receiving the credit report, a careful review is imperative to identify any discrepancies or unauthorized accounts. Parents should meticulously check for accounts they do not recognize, inquiries from creditors they have not authorized, or any unusual addresses or personal information. Understanding the contents of the report is a crucial part of protecting a child’s financial identity.
Addressing Findings on a Child’s Credit Report
Discovering a “blank” or non-existent credit report for a child is the most common and ideal outcome, indicating no credit activity under their Social Security number. If the report shows legitimate activity, such as an an authorized user account on a parent’s credit card, verify that the information accurately reflects the authorized account and its payment history.
If the credit report reveals unauthorized accounts, inquiries, or other suspicious activity, it suggests identity theft. Contact each of the three credit bureaus directly to dispute the inaccurate information and report the fraud. Filing a police report with local law enforcement is important, as it provides an official record of the identity theft, which can be necessary for further actions.
Reporting the identity theft to the Federal Trade Commission (FTC) is also a critical step, which can be done through their IdentityTheft.gov website. The FTC provides a personalized recovery plan and official documents that can be used when dealing with creditors and other entities. Finally, placing a credit freeze on the child’s credit file with each of the three major bureaus can prevent new credit accounts from being opened in their name. A credit freeze restricts access to the credit report, making it difficult for fraudsters to use the stolen identity for new credit, and can be temporarily lifted when legitimate access is needed.