Prepare your teen for financial success by talking to them about credit [Video]

(InvestigateTV) — Typically, the minimum age to get a credit card is 18, and Bankrate reports that the sooner someone opens an account, the better.

This is, in part, because it generally takes three to six months of credit activity before a credit score is generated.

Cherry Dale with the Virginia Credit Union encouraged parents of teens turning 18 to talk to their children about credit cards and credit reports.

Dale said one good way to start is for parents to pull their teen’s credit report – show them how to do it and go through it with them.

She said it’s a simple, yet valuable step. There’s probably not going to be anything on there, but Cherry said you’d be surprised how many people end up finding out their child’s identity was stolen.

“So, it’s just something that you want to be aware of and you can do that and pull it for free at annualcreditreport.com,” Dale …