Austin Startup FreeKick Helps Build Credit for Kids

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A new service called FreeKick, run by Austin Capital Bank, is helping parents build credit for their children from a young age. FreeKick allows parents to open an account and either deposit $3,000 or pay a $149 annual fee, after which the service will start building credit for the child. The goal is to give kids a head start on establishing good credit before they turn 18, protecting them from potential identity fraud.

Why it matters

Building credit early is crucial for a child's financial future, allowing them to more easily obtain loans, credit cards, and other financial products as adults. FreeKick provides a simple and secure way for parents to start this process, giving their kids an advantage over those who don't establish credit until later in life.

The details

FreeKick is run by Austin Capital Bank and allows parents to open an account and either deposit $3,000 or pay a $149 annual fee. The service then begins building credit for the child, which will be reported to credit bureaus once the child turns 18. This helps protect children from identity fraud, as they won't have an established credit history that can be targeted.

• FreeKick launched in 2025.

What’s next

FreeKick plans to expand its service to more banks across the country in the coming years, making it easier for parents nationwide to help their children build credit from a young age.