I heard that by having someone add your name onto their credit card, then never use it then you will start to get offers for credit cards, and you will have the same credit history that the person has. And it is all legal. But get someone who trust you,that has good credit.
2006-06-30 10:46:11 · 5 answers · asked by Anonymous in Business & Finance ➔ Credit
Yes you can do that. I wouldn't recommend being added as a "joint" on the account though. What you are talking about is being an authorized user.
If you are added as a joint user, you will be held liable for any charges the primary user racks up, if something should happen to the primary user. As an authorized user, you will not be held liable.
When the person who adds you to their card calls the credit card company to add you, have them request that the account be reported on your credit reports. It may take a few months before it starts to report. If you don't see it being reported by the 3rd month, call the credit card company again and request they report.
Be sure that the cards you are added to have a great history and low utilization. Whatever history and utilization that card has will report the same on your credit reports.
Once it starts reporting, then try to get your own cards.
Try to get a good balance of major credit cards, store cards and personal loans.
Once you do that, and keep current, you should have an excellent score. (that is if you don't have any negatives reporting now)
2006-06-30 18:24:21 · answer #1 · answered by echo 7 · 0⤊ 0⤋
As a matter of fact YOU CAN do it. That is how many parents create a credit history for their kids.
The person with GOOD credit adds you as a co-borrower when applying and this will show as a joint account in both persons report. You will no have ALL the same credit history but you will have the same credit history on that account. This will help you in gettin a good fico score.
If you apply for a card on your own they will see that even though its a joing account is is in good condition.
You can definitely try this method BUT there has to be trust and of course a good credit behind it.
If you are just getting started you could also obtain a secured credit card from your local bank or a store credit card. After a few months you will be able to get a normal credit card on your own.
2006-06-30 13:21:46 · answer #2 · answered by SCCRealEstateUNCENSORED.com 3 · 0⤊ 0⤋
This is not true...at least partually
Yes you will start getting credit card offers but if you have no credit history or really bad one you will be declined anyway
You will not get hte same creadit history as the other person that is the lie part
2006-07-07 06:31:39 · answer #3 · answered by GutsiePerson 2 · 0⤊ 0⤋
don't believe it's possible. in order to secure new cards from anyone, you need to provide YOUR social security number. You could use their SSN but then it would be identity theft and therefore not legal. if this was possible then everyone would be doing it. but you would never have the same credit as the person who allowed you to be added to their credit. just wouldn't work.
2006-06-30 12:10:30 · answer #4 · answered by YOU WILL BOW TO ME!!!!!!!!!!!!!! 4 · 0⤊ 0⤋
Not only is it possible, but it is done widely. Just choose wisely.
2006-06-30 13:42:17 · answer #5 · answered by WiseWon 3 · 0⤊ 0⤋