Help your child
Build Credit Early

Step is the best way for your child to build a positive credit history¹ before they turn 18. They may need to have a good credit score sooner than you realize – whether they will apply for a student loan, get their own cell phone plan, or even rent their first apartment. Good credit can save them money.

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50,616 Reviews

“My parents couldn’t beleive it...”

“I was super surprised it was a 751! My parents couldn’t believe it... I’m planning to buy a car soon and move out once I graduate from college. I’m 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.

“I’m glad my kids got a head start...”

“I wasn't offered the same opportunities when it came to credit building that Step provides and didn't learn much about the importance of credit until my late 20s. I'm glad my kids got a head start and that they are able to have positive marks on their record as it'll make the transition to adulthood a lot easier for them.”

Vanessa S

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How do I
have the credit
conversation?

A good place to start is explaining that a credit score is a number between 300-850 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 around 670 or higher, depending on the bureau². 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.

The average step user has an initial Credit Score of 723
when they turn 18³

Building credit with step is as easy as 1-2-3

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 can’t 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 Insurance
could cost
$147/MO or $250/MO⁴

student loan interest rate
could be
6.24% or 10.46%⁵

a security deposit
could be
1 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.

Get started today. No monthly fees or minimums.

Get started by opening a Step Account today. It’s quick and easy.

Learn about credit

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Help your child Build Credit Early