| 1) Deleting errors and negative items | | | | and is willing to add you to their account. An example |
| Its a well-known fact that deleting errors appearing on | | | | of this would be asking that person to add you on as |
| your credit report will raise your credit score. But, this is | | | | an authorized user to his or her credit card. When this |
| usually done through a bank or a mortgage company. | | | | person adds you, you will inherit their credit history. This |
| When you apply for a loan and notice errors, ask the | | | | technique works best when you are added to the |
| loan officer to to a rapid rescore. This strategy | | | | other person's oldest credit account with a perfect |
| requires that you have all your papers in order. You | | | | payment history. |
| have to provide written documentation such as a letter | | | | 3) The Round robin strategy |
| stating that the account on the report is not yours, or it | | | | This is a well-known technique for building credit. This is |
| was paid or any evidence that is related to the same. | | | | done through secured credit cards. To begin with you |
| You will be able to improve your credit score while | | | | put up $1000-5000 and obtain a secured credit card. |
| receiving better interest terms on the loan you are | | | | Then you take out a cash advance up to 65% of the |
| applying for. | | | | card limit. Using this amount, you open another secured |
| Even if you don't delete errors through a creditor, you | | | | card. Once again, you take out a cash advance of up |
| can submit this documentation on your own to the | | | | to 65% of your limit. Now, you get a third secured card. |
| credit bureau. The bureau will take about 30 days to | | | | With the cash advance you take out on the third card, |
| validate your claims. You should get another credit | | | | you open up a checking account. The account will be |
| report within 60 days of sending them the | | | | used to make regular monthly payments. In the |
| documentation to verify that the negative items have | | | | beginning your credit score will take a small dip |
| been deleted from your history. | | | | because of the multiple accounts being opened close |
| 2) Piggybacking | | | | to each other. But within 120 to 180 days your score |
| This is a great technique that I've used with success in | | | | will get a big boost. I used this along with a few 0% |
| the past. It boosts your credit score quickly and | | | | balance transfer offers to bump up my score |
| permanently. But, you need to a strong relationship | | | | significantly. |
| based on trust with someone who has excellent credit | | | | |