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Help!
I thought of entitling this "Increase your credit score virtually overnight" but I decided against it for obvious reasons. 
Please read.
I am currently in the process of buying a home. My husband and I have low credit scores due to closing all our revolving credit accounts 5 years ago (BIG mistake!). So our credit was preventing us from buying a home.
I have shared this information before here in the forums but it has been awhile since my last post.
Then I had a conversation with a man from a loan company and he gave me an idea that I had never even considered before. If you need a quick boost in your credit score, like I do, there is a way...and it's not a scam!
Ask a friend or family member with great credit to add you onto at least 2 of their credit card accounts as an 'authorized user'. What does that do? Well, the well-established account will also become a part of your credit profile and once it is reported to the credit bureaus your credit score will change dramatically in less than 1 month. Your friend won't need to give you any cards for the accounts and you won't be using the credit, just the reputation. And there is no way you can harm your friend's credit since he/she is still responsible for the bill. Once you have used your new credit to your advantage they can easily have you removed as an authorized user.
This works-- I know because my mother in law did this for us and our credit scores jumped 80 points in a couple of weeks!!
This is a great way to help someone qualify for a home loan without havign to co-sign and jeopardize your good credit.
Please read.
I am currently in the process of buying a home. My husband and I have low credit scores due to closing all our revolving credit accounts 5 years ago (BIG mistake!). So our credit was preventing us from buying a home.
I have shared this information before here in the forums but it has been awhile since my last post.
Then I had a conversation with a man from a loan company and he gave me an idea that I had never even considered before. If you need a quick boost in your credit score, like I do, there is a way...and it's not a scam!
Ask a friend or family member with great credit to add you onto at least 2 of their credit card accounts as an 'authorized user'. What does that do? Well, the well-established account will also become a part of your credit profile and once it is reported to the credit bureaus your credit score will change dramatically in less than 1 month. Your friend won't need to give you any cards for the accounts and you won't be using the credit, just the reputation. And there is no way you can harm your friend's credit since he/she is still responsible for the bill. Once you have used your new credit to your advantage they can easily have you removed as an authorized user.
This works-- I know because my mother in law did this for us and our credit scores jumped 80 points in a couple of weeks!!
This is a great way to help someone qualify for a home loan without havign to co-sign and jeopardize your good credit.
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