Legal Credit Manipulation Secrets

This article has been broken down into three digestible sections
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Pt-I

By RayHarris

Pay your bills on time, pay down your outstanding balances to 25-30 percent of your
total available credit and don’t close any aged accounts. You’ve heard it before and
you this time, you get it, but you need to raise your credit score

now. So what can
you do to rapidly raise your credit score? Pay attention and you will discover three
ways you can increase your FICO score in 90 days or less.

Leverage Another Person’s Good Credit History

We all know someone – Mom & Dad, Aunt Winnie or your boyfriend Bob – who has great credit.
They always pay their bills before they’re due and they never max out their credit cards.
Wouldn’t it be great if you could borrow their excellent credit history? Well, you can and
here’s how to do it. If dear old Mom & Dad or your favorite Aunt Esther adds you to their
credit card as an authorized user, you can dramatically increase your credit score by having
their great credit history added to your credit report. But, before you start sweet talking
your relatives, there are a few things you need to know about the authorized user strategy,
which is commonly known as “piggy backing”. You need to be sure that the person actually has
good credit and aged credit accounts that are at least 24 months old. Also, you want to make
sure the credit card issuer will report to the authorized user’s credit report – otherwise,
its not going to help you increase your credit score. If their credit reports show 3 to 5 paid
accounts that have been reporting for at least 24 months, you get added as an authorized user on
those accounts and the credit card company reports to your credit report, their 24 months of
excellent credit history gets added to yours in about 90 days.

The hardest part about piggy backing is getting someone who is willing to add you their credit
card accounts in the first place. This will be especially true if the person knows you have a
history of paying your bills late or not paying your bills at all. Also, just as riding their
good credit can boost your credit score, if their credit takes a nose dive while you are an
authorized user, your credit score will drop along with theirs. In order to minimize these
risks, have the credit card company send the additional card and PIN to the primary account holder,
and you should only remain an authorized user for a period of 6 to 9 months.

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