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Check your child's credit report
If you suspect your child's identity has been compromised, contact the 3 major credit-reporting agencies -- Equifax, Experian and TransUnion -- and request to see credit reports on your child's Social Security number.
The credit reporting agencies are required to respond, even if it's just to report that there are no credit transactions related to your child, says Winston.
In light of rising child identity theft, some experts recommend annual checks on your child's credit report. If your child's credit history has been tarnished with fraud, you will have time to correct it "before the child applies for a job, a loan for tuition or a car, or needs to rent an apartment," says Levin.
Other experts, like Weisman, suggest a safety check when your child is 16, especially if there are no signs of fraudulent activity. By checking your child's credit at age 16, your child has enough time to sort out any possible issues well before applying for financial aid or a job.