Good credit is everybody’s dream. A wise use of credit can go a long way. It certainly makes certain goals in life (such as acquiring bank business loan) easily attainable. But the key question remains: “What does it take to get” Triple A “credit?” First, it is important to be critical in that most people go wrong when it comes to their credit report and credit. People with bad credit often seek help for credit repair. Most would seek expert credit counseling and just try to do it themselves by purchasing a credit repair book.
Primarily, the problem is not the type of help to hire, but the assumption that you are left with after the whole credit repair process. When most people go wrong is that once their credit report is free of any negative entry (or mistakes), just assume they now have excellent credit.
That’s simply untrue.
In reality, your credit is not bad because you now have managed to erase the negative entries that was shown on your credit report before. At the same time, you do not have ‘ Triple A ‘ credit either.
Unless, you have positive items or entries showing on your credit report.
And the key to successful credit repair is not only getting rid of the negative entries in your credit report but rather showing that you have multiple positive entries on your credit report that you can buy relying on your bank to lend money. You can find various articles dedicated to guiding you through the process of credit repair, but few will discuss beyond repairing your credit. Which means some will tell you (better yet, know)
“How to add positive entries to your credit report?”.
It is very important you understand that, you can repair your own credit and make it flawless, better than anyone ever could. Today, there is so many help on credit repair help, but not all are legitimate help. And it is extremely important to keep that in mind.
If you want to avoid getting chopped-down by bogus repair companies, take the following two statements as an advice that will serve you a long way.
1- There is no law available to any credit repair company, expert, or attorney – that is not available to you as the credit consumer.
2- Credit repair companies use the same law made available to you by congress to repair your bad credit. And they certainly can not change the law for their clients.
The above two simple statements might seem obvious, but repeating them like a mantra can be the difference between getting ripped-off and getting the ‘Triple A’ credit you deserve.
Back to the main point – “How To Achieve Triple A Credit?”
Here you will learn two powerful and proven ways that will give you a sterling credit in the shortest time possible – 25 Days. Apply the following two techniques and, guaranteed, you will give your credit a face lift that would have banks open their check book.
1. A Millionaire’s Credit in 25 Days.
Do you have a checking account and a savings account? Good. If you don’t, no worries, these days you can open an account online. It should take you no more than 5 minutes. You got your accounts opened? Good, now comes the second phase.
Phase 2: Now you will need your savings account to use it as a collateral. Now using your savings account ask your bank for a secured passbook loan.
You can borrow a dollar for dollar with a passbook loan. This type of loan works well with as little as $300, but if you have $10,000 – that’s even better. Once you secure a loan with a passbook you can not touch the funds until you have fully repaid the loan. Remember, you should be able to do with-out these funds for 30 days.
A bank secured with your passbook loan has no risk in lending you money, so any bank should be willing.
Note: It is extremely important that the bank reports your loans to the credit bureau. Therefore ask your bank “If they report your payment history to the three credit bureaus?”, it is critical part of this whole process.
After all, the whole purpose of you doing this is to add zing to your credit report with a very powerful and positive payment history, right?
Now once you borrow the money, wait 25 days and repay the loan back to your bank. Because you have fully repaid your loan the bank will send your positive payment history to the credit bureau.
That’s a grand slam!
To get your credit rating back to triple AAA status, here are some ingenious loopholes in the system that you can enact by yourself.
1.Deposit some money in a bank. The first step is to bring some money to a bank and open a small savings account. A measly $ 300 probably do the trick. Be sure to open a savings account. Waiting a couple of days for the new account is posted.
2.Get a bank loan. Once your new savings account is posted, go back to the bank and ask for a loan of $ 300. Usually this will be approved without the bank checking your credit rating because it has a savings account with them to cover The loan if you do not pay. Of course, you will have to sign a loan agreement that will allow the bank to automatically debit your savings account if the loan is not returned within the agreed time frame.
3.Deposit to another bank. After receiving the $ 300 loan from the first bank, go to another bank and repeat the same process. Open a savings account with $ 300 dollars, wait a few days for the new account is published and apply for another loan of $ 300. It is important to get a better payment plan than what was given in the first bank.
4.Repeat the same process for the third bank. As soon as I receive the $ 300 second bank loan, proceed to a third bank and repeat the same process. Again, it would be great if I could get an even better payment plan for the loan approved here.
5.Pay the loans. Once you have all three banks loans and have $ 300 in your pocket, repay the loan repayment in the first month of each bank. Keep repayment of the loan at all banks, matching the agreed schedule. If you can repay the loan before, this would certainly be better. After completing all payments to the 3 banks, AAA credit rating should become triple after a few days.
6.Use a friend with a triple AAA credit rating. Another way to get your credit score fast is to ask one of your friends with a pending credit history to add it to your credit card as an extension. After receiving the credit card by mail, cut it or return it. After a few days after receiving the credit card you should be able to check your credit score and see AAA status again triple. This is because your friend’s rating has been added to yours.
Note: Make sure that you ask your bank if they have a pre-payment penalty because you do not want that.
Finally, about one week later start to pre-pay your three loans.
Now you have an advance payment record with three banks and will have established powerful credit for your credit report. From now on every type of loan and credit card will be yours for the asking.
Here you are with un-touchable credit, three big banks as your future business friends, and a credit bureau reporting positive payment history – all in just under 30 days. You just learned about one of the very few techniques that can change your credit significantly within a month time.
Of course you can apply these techniques for as long as you like and keep improving your credit. Apply these techniques discussed and you will get the Triple A credit you deserve.