Adding yourself to a family or friends credit card will automatically give you their credit for the length of time they’ve had the account open. Any negative or positive payments will also show up. If you’re friend of family member has been on time then it could boost your credit score by over 40 points.
Another great way to establish credit is to open secured credit card or take out an installment loan. Either one of these will help rebuild and bring your credit score up.
Please note, it can take 3 years to bring a credit score above 620 if you’ve recently had a BK or foreclosure. That shouldn’t bother you though, because FHA and Conventional financing will not lend to you even if your credit score was over 620. That is for at least 3 years. So start now if you’re planning on buying a home again.
About Daniel Reynolds
Resident of Phoenix Area for over 10 years, I know the Valley of the sun! I have over 5 years in real estate and over 4 years in mortgage financing. Rest assured, I can help you find a home. Whether you're buying or selling, I'm always on the ball and are prompt to answer questions either by phone or email. Please email or call me if you have any questions. My mobile is 480.297.2008 