One Simple Strategy Raises Credit Score 120 Points

John T. from Tuscon, AZ, used a simple “piggy-backing” strategy to add +120 points to his FICO.

To take advantage of this powerful strategy, follow these steps while watching TV from your favorite easy chair.

1. Pick a friend or relative with “good” credit, i.e. >720 credit score.

2. Explain to your friend that you are tired of bad credit and request a big favor.

3. You want your friend or relative to add you to his/her credit card account as an Authorized User.

4. Within 60 days (depending on the card issuer’s tape) you will benefit greatly by “piggy-backing” off your friend’s or family member’s good credit.

Yes, this strategy is simple and it works. However, let’s fill in some details, which makes this “piggy backing” strategy so beneficial.

Your friend or relative must:

A. Have >720 or better credit score with no “lates” on his or her account.

B. Have a “seasoned” account, i.e. active account for at least 5 years (the longer the better).

C. Have a higher credit limit, i.e. >$10,000 (the higher the better).

D. Have a card from an issuer allowing Authorized Users and reporting your AU status to the Big 3 (Experian, TransUnion & Equifax).

E. Be trustworthy. If suddenly your financially responsible friend or relative suddenly became irresponsible, his or her irresponsible card behavior will pass to your credit file.

F. Want to help you. Though your friend or relative has no risk by helping you, as you do not necessarily receive a card, your friend or relative may not want to be inconvenienced.

G. Keep a balance less than 30% of card limit.

H. Use his/her card regularly.

Two Big “Players” Lower FICO

However, avoid American Express and Capital One.

Don’t wait for the end of Grey’s Anatomy. Pick up the phone during the next commercial and call your friend or relative.

You don’t need to go in to details about your bad credit, only that you want to improve your credit and would appreciate his or her help with absolutely no risk to your friend or relative.

Once he or she agrees, confirm your friend’s credit card passes the test as described above.

With no heavy-lifting, your FICO will benefit from your friend’s or relative’s gift to you.

And this is a special gift. We’ve discovered many websites offering this service for fees up to $6,000.

Your bad credit steals your hard-earned money each and every month…much more than $6,000 on one bad car loan or one bad home mortgage.

About The Author:

Do you or someone you know suffer from bad credit? If you are serious about fixing your bad credit, don’t put it off. Discover credit repair secrets, tips & strategies @ http://www.fixmyuglycredit.com