I am going to take my children to the bank when they turn 12 and take a loan out with their name on it to buy them each a ATV and then make 5-6 payments then pay it off(we havealso set up saving accounts for them,put 10 grand in each one when they were 1 yr old).doing this will set up a credit linefor them when they get older.My dad did this with me when I bought my 1st motorcycle/enduro bike....except no savings account.......
You also need to remember that employers(some) will look at your credit too whenapplying for a job to see if your a risky hireie....
Haveing good credit can be a big plus nowdays.....If your young(18-24) getting a cc with a 1000.00 credit limit can go a long way as long as you dont default on payments.