DR. WALLACE: I'm 20 years old and am wondering if it's time for me to get my first credit card. My parents have always advised against me getting any type of credit card at all since they feel many young adults get into debt by using high-interest credit cards and spending way beyond their means. However, on the other hand, my friends and co-workers keep telling me that I need to build up a credit score if I want to plan to be financially independent soon.

There seems to be a lot of contradictory information online about whether getting a credit card is a smart decision. I'm good at exercising self-control, so I'm not worried about spending more than I can afford if I was to get a credit card, but some financial gurus like Dave Ramsey strongly advise against it, and my parents seem to fall into that camp as well. I'm confused about what I should believe and decide for myself. Any advice you can give me would be much appreciated! — Now a Young Adult, via email

NOW A YOUNG ADULT: There are several ways for a young person to build up a credit score, all involving creditors reporting bill payment details to the three major credit bureaus.

Yes, getting your own credit card can definitely help in this regard, but comes with risks as well. One risk is overuse and spending beyond your means, and another common pitfall is missing a payment due date. To avoid the latter, sign up online for the automatic minimum-payment-due service. If you opt to get a credit card, do so only with a very small credit line so that you won't exceed it.

However, nearly the same benefit can be accomplished by being added by one or both of your parents to a credit card account they already have. This only makes sense, of course, if your parents have a good credit history themselves. In this case, you'd be listed as an "authorized user" on their account. And to be sure you do obtain the benefit of this, be sure the credit card issuer is one that does report "authorized user" activity to the credit bureaus. Some do, some don't, so do your homework here in advance of moving ahead with this option.

Another strategy is to take out what is called a "credit-building loan." Some lenders offer loans that are specifically arranged to help borrowers establish credit with their institutions. These entities figure that if they help young people build their credit, a percentage of them will retain that same institution as a longer-term customer, with the added bonus that the business knows these young people are interested in establishing and building up good credit scores. These initial loans do cause the borrower to pay some interest on the funds borrowed, but it's usually a small price to pay in return for building up a nice base for a good credit score.

Another idea is to pay your own cellphone bills, streaming bills, internet access fees or even utilities to the extent that this is possible given your situation. Again, be sure that these service providers add your name to their reports to the major credit bureaus. Once you can establish one or more of these recurring payments in your personal credit report, your payments will gradually and steadily improve your credit score and build up your history. Just be positively certain to make all payments on time!

WHY NOT HER MAIDEN NAME HERE?

DR. WALLACE: I'm a grandmother, not a teenager, but I still hope that you will consider my letter. My eldest granddaughter is now 20 years old and has a one-and-a-half-year-old daughter. I recently discovered that she gave her daughter the last name of the father involved with her procreation. I feel strongly that since they are not married and do not live together, my granddaughter should name her daughter using her maiden name for this little girl's last name.

I feel like saying something to her about it, but so far, I've resisted that temptation and instead felt I would write a quick note to you first to get your take on the situation. If you were in my shoes, what would you do? — Grumpy Granny, via email

GRUMPY GRANNY: My advice is to remain silent on this issue, and openly support your granddaughter and your great-granddaughter. The most important thing is the health and well-being of this little girl, not what last name appears on her birth certificate.

Your letter also did not mention what type of relationship your granddaughter has with the father of her baby, even though they don't live together. At the age of 20 she could still be planning a life with him. And even if that isn't the case, she has every right to decide what last name she would like her child to have.

There's plenty of time later in life for either your granddaughter or great-granddaughter to make an adjustment to this little girl's name if one of them elects to do so. Now is not the time to create turmoil, despite your strong feelings about this issue. I can appreciate where you're coming from, but I'm firm in my advice that you should respect their choices. Focus now on doing your best to help them in any loving way you can as they both grow older and begin to navigate through life as mother and daughter.

Dr. Robert Wallace welcomes questions from readers. Although he is unable to reply to all of them individually, he will answer as many as possible in this column. Email him at [email protected]. To find out more about Dr. Robert Wallace and read features by other Creators Syndicate writers and cartoonists, visit the Creators Syndicate website at www.creators.com.

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