How to find people with good credit willing to share their good credit with me? Credit card shareing.?


There was a news article on Yahoo a few months back, on people paying others with good credit with great credit cards to place them on their accounts, ordering an additional credit card in the name of the purchaser (bad credit guy), therefore increasing the credit of the other guy. The card will be sent to the one ordering it, and they can then tear the card-up, thus the process being relatively safe. Did anyone see that article? I would like to do that, so if someone could help, It would greatly appreciated!

Build your credit, don’t try to buy it.

In the credit reports, a "shared" account will have you designated as an authorized signer. If the account history is significantly different from your other accounts, it’s easy to tell.

As a loan review person, I will immediately discredit the person when there’s a piggyback situation like that. Your credit score may improve somewhat, but your credit is still crap. I’ve turned down people just for having an obvious piggyback account.

By the way, FICO is updating the credit score model to disallow piggybacking starting in September. Besides, there are a lot of other factors within the model.

I recommend:
1) To all of you out there, DON’T "SHARE" credit with someone who doesn’t deserve it. A person with bad credit wants to share your good credit so he can BORROW MORE money. And when he is late or defaults on the loan, creditors will have to charge the rest of us more money to make up for the loss. It makes loans more expensive for the rest of us with good credit.

2) To the asker, DON’T try to shortcut the system. You can easily build up your credit over time by:
a) Paying ON-TIME
b) Living within your means
c) Getting out of debt

Cheaters never prosper!!

Just Be!

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