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  Listed Article

  Category: Articles » Finance » Bankruptcy » Article
 

9 Easy Steps Parents Use to Help Build Their Child's Credit Score Before They Turn 18!




By Kwanza Niida Green

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 0r 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 take them off of

their accounts.

Step:8 Open a checking and saving account. Pay yourself monthly by

adding to your saving 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.
 
 
About the Author
Too many people aren't aware that a good credit status can be accomplished so much sooner.
Kwanza Green
www.buildandrepaircredit.blogspot.com


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