How To Establish Immediate Credit:

Good credit can be achieved without working your way back into it by the usual method of applying with small firms and then to the larger firms. This technique was developed by a former security chief of one of the major credit bureaus. The FBI wanted to establish instant credit history for one of its undercover agents. It has worked for the FBI, and it can work for you.

The method to establish AAA-1 Credit in 30 days is to use the credit history of a trusted friend or relative. It is important that you review the credit file of your person before using this method. Someone whose credit history is AAA-1 and does not have any problems with it is who you’re looking for. Ask a friend to act as a guarantor for a card with a company he has an account with. The creditor should issue the card without hesitation because the person guaranteeing the second card has a good payment history with that account.

This method will bring complete history of that credit card account, which also includes the state the account was opened and the payment record, into the new file without any indication that it is a secondary card. This can result in an excellent credit history on your brand new credit file in a matter of weeks. You should let the person whose credit you are using know that immediately upon receiving the cards you will return the cards to him, so they can be destroyed. Make sure you let the friend know you will not charge on the account.

The creditor receives the letter, and once that happens, one of two things will occur. The creditor will send out a new card or he will send you a credit application. If you get an application, have your friend or relative complete the primary information and you complete the secondary information, using your new file information. All you have to do now is send the application and wait for the card. After about 30 days, request a report from the credit bureau. The credit information of your friend should be on your file.

You can repeat this process on as many credit cards your friend has. With the new credit file you can then apply for other credit cards with other banks on your own. You should take precautions, though. Do not put more than 3 to 5 of your friends’ information on your new file. Use only secondary information from Visa and MasterCard and one or two department stores and one or two oil cards. You do not want to overwhelm your credit file if you want to secure some new credit cards.

Keep in mind, this no longer works for the certain industry scoring models, like the mortgage industry. The mortgage industry uses FICO 2, 4 and 5.

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