07/15/2020
BUILDING GOOD CREDIT
You may have recently finished restoring your credit, or you may be young and have not used credit yet. In either case, it's easy to create a good credit history easily and cheaply. You will produce a sparkling credit report in just a few weeks, most of the time. Next, you have to make sure you 're spotless on the credit report. Most of the time, creditors cover their liability by giving you many excuses for denying your credit. If you receive a letter of rejection that says "Derogatory credit accounts & inadequate positive credit accounts," don't think about the good credit until the poor credit has been restored. The creditor would still have rejected you no matter what your poor credit history was.
If you have some bad credit on your credit report, see this website's Restore Bad Credit list. Now that your credit is perfect, you are willing to construct a positive credit profile. Follow any or all of these techniques to stack A-1 listings on your paper. But be careful, if you stack too many open accounts or too many requests for credit, you will be denied based on debt-to-income ratio and excessive applications for credit. If you already have an excessive credit inquiry problem, see the Erase Credit Inquiries file on this website. Piggy-back on a Friend When you meet someone who has good credit (like a good friend or parent), you can "borrow" their good credit listings. This friend must have credit cards and trust you enough on his credit cards to allow you to become an "authorized user." Just have your friend call his credit card company and ask you to position yourself as an authorized user on his account. A copy of the card will be sent to your friend, and you can simply return it. Your credit file will soon be showing an open account with all the positive history your friend generated with that credit card over the years. A little notation indicates you 're an authorized user of that wallet.
