How to Protect Your Kids’ Credit

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Editor’s Note: This episode initially aired on June 8, 2023. It may contain some details that are out of date.

In this episode, we’re talking about protecting your kids’ identity and building their credit.

You might be surprised to learn that 1 in 50 children is affected by child identity fraud, costing consumers nearly $1 billion per year. So, how do you make sure your child isn’t the one whose identity is stolen? Glad you asked, because that’s the question we’re going to answer today.

Host Stacy Johnson is joined by financial journalist Miranda Marquit. Listening in and sometimes contributing is producer Aaron Freeman. And today’s guest is Erik Beguin, founder and CEO of Austin Capital Bank, FreeKick and CreditStrong.

Full disclosure: We have an advertising relationship with Austin Capital Bank, but that doesn’t affect our opinions. Know why? Because we’re journalists, that’s why. And remember, this isn’t financial advice. So make sure to do your own research and consult your own experts before acting on anything you learn here.

You can download the episode wherever you get your podcasts:

Your credit matters: What you need to know

In this podcast, we talk about the importance of credit. Your credit can impact the types of financial services you have access to and the price you’ll pay to use them. If you want to learn more about credit, credit scores and identity fraud, we have some resources that might help you make the most of what’s next.

Help your kids learn about money

It’s not just about boosting your kids’ credit scores and protecting them from identity theft. You also need to give them a head start on managing their finances in a healthy way. Here are some resources we provide that can help you with your kids’ needs, including how you can save money while you raise your children.

We also encourage you to check out the Equifax Minor Freeze Request Form and the Federal Trade Commission’s ID Theft Report Form. You can also use the FTC guide, “How to Protect Your Child From Identity Theft.”

Meet this week’s guest, Erik Beguin

Eric Beguin
Courtesy of Eric Beguin / Money Talks News

As CEO and founder of Austin Capital Bank, CreditStrong and FreeKick, Erik Beguin is recognized as an industry leader in creating credit-building and identity protection products for consumers. Erik is also recognized nationally as an expert in banking and financial technology, having served as an appointed adviser to both the Federal Reserve and Consumer Financial Protection Bureau (CFPB).

He received an MBA with distinction from the University of Michigan Ross School of Business, a BA in accounting and economics summa cum laude from Luther College in Decorah, Iowa, and is a certified public accountant.

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About the hosts

Stacy Johnson founded Money Talks News in 1991. He’s a CPA, and he has also earned licenses in stocks, commodities, options principal, mutual funds, life insurance, securities supervisor and real estate.

Miranda Marquit, MBA, is a financial expert, writer and speaker. She’s been covering personal finance and investing topics for almost 20 years. When not writing and podcasting, she enjoys travel, reading and the outdoors.

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