How To Build Credit Fast

There are only two ways to build credit. One is to get credit from one creditor at a time. The other is to build it using other peoples credit. This article will show you how to build credit fast. Not only fast but have a long credit history where one never existed before.

Building credit fast is very very simple to do. As long as you have trust and respect for the people that will help you with this process and they have trust and respect for you you will have instant credit.

The way this works is for a friend or family member add you to one, some or all of their credit accounts. They will need your name, address, social security number and more than likely your phone number as well.

All they need to do is call any of the creditors they have an open account with and add you to it. If it is a credit card or other charge cards they need to add you as an actual account holder on the cards. If they add you as an “authorized user” it will not build credit for you.

When someone adds you to the account you instantly get their entire credit history for that account. So for example if it was your mom and she added you to a credit card she has had for 5 years. You will get that credit on your credit report.

Obviously it is very important that any credit account you get added to that the credit history has been clean. Otherwise you end up getting bad credit instantly.

Earlier on I mentioned trust. They need to trust that you will not do anything to jeopardize their credit nor will you use any of there available credit to buy things with etc.

There are some pitfalls to this method however. If they miss payments it will be reflected on your credit report. If they default on the credit you could be slapped with a collection or even a judgment which also will show on your credit report. If they were ever to file for bankruptcy the creditor could go after you as well.  

Another thing to consider is that if there is a balance with any of the creditors the payments go against you when trying to qualify for car or home loans.

There is only one way to get around this and that is to show proof that the person that you have joint credit with is the one that makes the payments. You will typically need to get cancelled checks or bank statements to show proof that they do indeed make the payments. In most cases you will need a years worth of this proof.

So there you go. That’s how to build credit fast. I didn’t say it was the best way but it is definitely the fastest way to get credit.