| 26 July 2010
The best way on how to raise your credit score fast is to add seasoned trade lines. Seasoned trade lines are major revolving credit cards with high credit limits / low balances that can be added to your credit profile for a rapid credit score boost.
If you have a friend, relative, or business parter with great credit who wouldn't mind helping you out, here is how this goes. If this person maintains a credit card with at least a $2,000 credit limit and a minimum of 2 years of perfect payment history, you can piggyback that account and have it show up on your credit report. The trick is, this account must be a revolving credit card and can only be with the following creditors: Bank of America, American Express, Citibank, Washington Mutual, and Capital One. These banks report authorized users to the credit bureaus, and by doing so, authorized users receive the same account reporting benefits as the original card holder! Tell your friend that they can request from the bank that an authorized user card NOT be sent, and you will never receive a copy of the card or any information about the card there of. This way your "credit donor" can feel good about the fact that you will never gain access to their cards or accounts.
Now being that this person would be someone close to you, for your own benefit (not to tell them you don't trust them :~) it is important to verify through a statement or something the balances and history of these accounts. Add accounts with 60 day lates and over-the-limit credit limits and your credit scores will take a NOSE DIVE. Do it right, and you can see score jumps from 5 points to 300! If you have no credit at all on your credit reports, this strategy is a great way to establish 700+ credit and pay nothing to do so. If you need to raise credit score into the 700's, the best way to raise your credit score is to simply add good credit. Other tips to raise a credit score instantly can be also implemented to strengthen your credit profile even more. On the other hand, if you would rather pay a company like ours who screens card holder accounts from these creditors, then we can match you with a qualified card holder and you can simply pay $500 to have it added for you. Check out the video below to learn more about that. The question of "how to raise your credit score fast" is finally answered with seasoned trade lines.
Happy hunting!