After this has been done and the account is activated, their entire account history and future will now be completely attached to yours. If you could secure 3-5 of these accounts; specifically if they are accounts of installment, your credit could hit the roof.

The most difficult part of doing this is finding someone who has the good credit that will be willing to add you. Consider it for a while; if you already have a low credit score and bad credit, how eager do you think someone will be to make you a joint cardholder? Even your parents won't be willing to have their credit damaged.

Here’s a way for them to accept, you don’t need to possess the card, you will just need your name on it! In other words, the person who adds you could add you as a card holder but never give you the card or PIN or any information at all on it. As the bills and all account information will be sent to the person’s address, you won't have any information about the account. Trying to explain this properly to people could result in many people who are willing to do it. And you will still benefit from a higher credit score.

4. The Round Robin Plan

This method is one of the oldest credit building tricks you can pull. It used to be handled through savings accounts which were secured. Now however, it's a lot easier to do because they have secured credit cards. Actually, this method has been used by myself.

Here's how it functions: If you take $1,000 (or whatever you can afford) and get a secured credit card, once you get the card, you can get a cash advance of 70% of your credit limit. Now if you get a second secured credit card, once you get this one, you will want to get a cash advance of 70% of your credit limit on this card. You can then use the money to get a third secured credit card. Once you get the third card, you can get yet another cash advance of 70% of your credit limit.

Once you get all the cards, you will want to open a new checking account with the final cash advance. You will make use of this account for making payments only on your three new credit cards. If your payments are carried out on time each month, your credit score will improve as you will now have three new perfect payment credit cards.

At first it is important to bear in mind that your credit score might drop a few points because of the fast, and multiple accounts being opened. Nevertheless, if you wait for about 4 months and have no new accounts or any delinquencies of any account, you will see your credit score improve and get better.

Get out of your bankruptcy situation with some more tips! Go to the next page of our guide: Bankruptcy Advantages 4