Help your child
Build Credit Early

Step is the best way for your child to build a positive credit history before they turn 18 They may need to have a good credit score sooner than you realize whether theyre applying for a student loan getting their own cell phone plan or even renting their first apartment Good credit can save them money

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45477 Reviews

My parents couldnt beleive it

I was super surprised it was a 751 My parents couldnt believe it Im planning to buy a car soon and move out once I graduate from college Im sure my score will help me get better rates and easier approvals for homes

Jeniffer M

This will be amazing for my student loans

You guys are amazing My credit score is 734 and I just turned 18 a couple weeks ago This will be amazing for my student loans Thank you

Michael p

I told my parents and they were very proud of me

Finding out that my credit score is as high as it is was very surprising and exciting I told my parents and they were very proud of me I also got the chance to go onto my own phone plan

Sengmanivan L

Im glad my kids got a head start

I wasnt offered the same opportunities when it came to credit building that Step provides and didnt learn much about the importance of credit until my late 20s Im glad my kids got a head start and that they are able to have positive marks on their record as itll make the transition to adulthood a lot easier for them

Vanessa S

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How do I nhave the creditn conversation

A good place to start is explaining that a credit score is a number between 300850 that represents how responsible someone is with money There are different factors that influence a score like length of credit history and payment history A good score is considered to be 670 or higher depending on the bureau Its important to know a better score can mean better deals on things like car loans and apartments For more information watch or share this video with your child

18 year olds whonused step for 7 monthsn saw an average Credit Score of 7253

Building credit with step is as easy as 123

Let’s be honest. Building credit can be hard for anyone but it’s especially challenging for people under 18. That’s why we created Step.

Step 1

Your child uses their Step Visa Card to securely make purchases up to the amount that is in their Step spending account They cant overdraft

Step 2

With Smart Pay their purchases are automatically paid off at the end of each month using the funds in their deposit account

Step 3

When they turn 18 they can opt in to have Step to report their positive credit history to the 3 major credit bureaus Equifax TransUnion and Experian

The high Cost of a low score

Rates are determined by a number of factors, including credit scores. Here is what an 18 year old Step user with a score of 725 could pay compared to costs asscoatied with lower credit scores.

Car Insurancencould costn 147MO or 250MO4

student loan interest raten could ben 624 or 10465

a security depositncould ben1 mo rent OR 2 mo rent6

How does Step help my child build credit?

The Step Visa Card is a secured credit card that allows your child to make purchases up to the amount that is in their Step Spending Account. With Smart Pay, their purchases are automatically paid off at the end of each month so they never have to worry about late payments. They can opt in for us to report their transaction history as positive payment history to the credit bureaus when they turn 18.

My child is still young. Are credit scores really relevant to them?

The best part about the Step Visa Card is that it serves an immediate purpose by allowing your child to safely spend without worrying about overdrafting – it just happens to be preparing them for their future in the background. It’s important to start educating them about the importance of credit when they’re young.

What credit bureaus does Step report their history to?

We will report their credit history to Experian, Equifax, and Transunion if they opt in as a legal adult.

Can I use Step to work on my credit?

Yes! When you open a Step Account, you have the option to order a physical Step Visa Card for yourself. With Smart Pay, your purchases will automatically be paid off at the end of each month. You can opt in to have us report your transaction history as positive payment history.

Does it cost anything to use credit reporting?

Nope, it’s just part of the deal with Step.

Help your childBuild Credit Early