I know there are alot of scams to fixing your credit. Im not looking for hand outs on how to get rid of bad stuff im responsible for. Im just looking to increase it. In my quest to try to raise my score i found this site http://www.williamsfinancialcorporation.com/. They add you as an authorzied user to one of their accounts to show you have a long never deliquent credit history. Has anyone heard of this? Do you think its a scam? Is it me being naive? Thank for the help
2006-11-17 16:03:27 · 8 answers · asked by djboricualx19 1 in Business & Finance ➔ Credit
It sounds fishy. If you have that much money to give to someone else, just pay off your own debt and that will help you too. I know when I opened to much credit too fast, it hurt my credit score a bit and were only talking about 1500 dollars. This company is talking about credit lines of 10-15 thousand each. That could show you as out of control and a credit risk and lower your score.
2006-11-17 16:23:52 · answer #1 · answered by Paul M 2 · 0⤊ 0⤋
I am signing papers on a house Wednesday and the way we upped our credit score it had my father add my husband as a signor on his credit card. The catch it the person can't owe over 50% of their credit line and the have to have good credit with that card. Another way to raise it is to dispute everything on your credit report wether its true or not and while the credit bureau is researching it will go up... Now keep in mind that eventually it will go back down but if you are wanting your score up to go buy a new car or something then your score will be up long enough to do that. Good luck!!
2006-11-17 16:15:37 · answer #2 · answered by JesusisGodsson 2 · 0⤊ 0⤋
Be extremely cautious. Being added to someone else's account will not create a long credit history for you. What it will do is leave you liable for the charges they run up in the name of the corporation when/if the corporation dissolves ( become defunct). The owners of the corporation will have no personally liability, leaving you and all the other desperate people with their debt.
There are safer ways to establish, re-establish and repair your credit as shown in the site below.
2006-11-17 18:28:42 · answer #3 · answered by Maddy Waddy 2 · 0⤊ 0⤋
the process they use is the same thing that you could do with someone that you know like your mother or father. what your ma and pa could do is add you to a credit card that they have. if they have had the card for 25 years and it has been in good standing then that will reflect to your credit that way as well.
it will artificially inflate your score for lending purposes.
you can also see the pro's at http://www.720ficoscore.com
2006-11-17 16:16:48 · answer #4 · answered by Anonymous · 0⤊ 0⤋
Ive always got my credit through the mail, never through the internet. If it sounds to good to be true than it is. I do think this is a scam and some way they will get your money, stay away!!!!!. Dont go for the internet stuff, talk to your family. Were always here also.
2006-11-17 16:12:42 · answer #5 · answered by *COCO* 6 · 0⤊ 0⤋
ive never heard of that, but if you want good credit you just have to establish it. its part paying on time, part not holding a balance, part having been good for years upon years. i would just go about it the old fashioned way, to be on the safe side. if its too good to be true...
2006-11-17 16:05:50 · answer #6 · answered by Laura 2 · 1⤊ 0⤋
I would be suspicious. Be careful who you give your private information to.
2006-11-17 17:54:24 · answer #7 · answered by Mariposa 7 · 0⤊ 0⤋
sounds like a scam.
2006-11-17 16:05:09 · answer #8 · answered by jperk1941 4 · 0⤊ 0⤋