This post is sponsored by Silver Money Services.
The other day, Maddie, my oldest and I were having a conversation about establishing her credit. As a junior in college, she knows that soon she will have to get out in the Big Girl World and she knows that in this day and age that credit is king. In the course if this conversation I was able to tell her about this new app called Silver. This app is available on both android and iPhone. With this app from Silver Money Services she can compare credit cards all at once- making it easier to find the best card her situation. If she has questions she can also ask them as well.
Not only does it look for the best card for any particular person, it also will let her know which cards have the best deals on the market. With deals I mean those that have reward points, cash back, fee or no fees at all or the best balance transfer so she can prioritize which deals are the best for her. I personally would love the cash back and no annual fees deals but that is just me.
There are two other awesome features about this app that I would be remised if I didn’t mention. One is that Maddie can apply from her phone to get a card. After she decides which card to get and she has it her hot little hands, if she ever has a problem with it she can call customer service directly from her app.
Of course any talk about establishing credit also has to come with some tips or warnings. So here a few important ones to share with your kids.
- One card is enough.
- Only charge what you can afford to pay.
- Pay your balance in full every month.
- Don’t even think about using those cash advances.
- Stay under your credit limit.
- Don’t allow your friends to use your card.
- And lastly, don’t think that if you can’t pay that your parents will.