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9 Easy Steps Partents Use To Help Build Their Child's Credit Score Before They Turn 18!
For different reasons the military has become an unattractive
option after highschool. This leaves less options for young adults
who can't afford college,until now. Here are the steps parents are
taking to prepare their kids to buy a NEW car, move into their OWN
apartment and get a couple of credit cards and much more, all
before they turn 18.
Step:1 First,you will need to approach a close friend or relative
that has an excellent credit history to act as your grantor.
Step:2 The grantor will then call as many credit accounts as
possible in order to add you as a secondary card holder.
Step:3 When the applications arrive fill them out and then send
them back. Only fill out the applications that ask for the
secondary card holder's S.S.N. (Social Security Number).
This action will put a credit history on the secondary card
holder's credit report. Amazing!
Step:4 When the cards arrive in the mail in the secondary card
holder's name on behalf of the grantor immediately destroy them
because they aren't needed in the process of building your credit
history.
Step:5 2 or 3 months after the credit cards have arrived check your
credit report to see that the accounts have posted.
Step:6 After the cards start to appear on the secondary card
holder's credit report they then can start only applying for the
pre-approved credit cards that will come in the mail, for example:
Discover card or Visa etc. and a gas card in their name as the
primary card holder.
Note: You don't have to have a car to apply for a gas card.
Remember, it's just to show a good credit status because a
department store interest rate may be too high.
Step:7 Now when the pre-approved cards start to arrive in your name
as the primary card holder keep the debt between 15 and 30% in your
debt to ratio status and remove as many bad credit items from your
credit report as possible. This is how you "dress your credit
report" to qualify for new credit offers.
Also, after a credit history shows up on the secondary card
holder's credit report is when the grantor can then take them off of
their accounts.
Step:8 Open a checking and savings account. Pay yourself monthly by
adding to your savings account.
Step:9 Also, then apply for another credit card (Master or
preferably Visa) from this same bank.
After doing this your credit report will show a good credit history
plus at least three good revolving accounts when it is checked by
financial institutions or car dealerships etc.
AAA CREDIT STATUS!!
This information is relevent because of the current issues of
today, the state of the military and that NO organizations or
educational institutions has or is currently giving our young
adults the information they need to have a financial HEAD START.
I am a financial author (Amazing Tips How We Went From Welfare To
Wall Street, www.teach-me-how-to-trade-futures--online.com) who has
come to the conclusion that the more our future (young adults) knows
about getting a financial HEAD START the better off we'll all be
(www.buildandrepaircredit.blogspot.com).
Now with the information in this article parents and children alike
will have the information they need to build their credit score,
repair their credit report and remove a bankruptcy,reposession,
student loans and so much more...
Kwanza Green,author of publications that help the uninformed,
(www.teach-me-to-trade-futures--online.com) invites you to the
website that will give you and yours a financial HEAD START.
(www.buildandrepaircredit.blogspot.com)
We strive to provide only quality articles, so if there is a specific topic related to student loan that you would like us to cover, please contact us at any time.
And again, thank you to those contributing daily to our consolidation loan lowest rate student website.
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