The risk is that the primary cardholder is still responsible for all payments, so you’ll need your friend or family member to take the risk. While this is most commonly done between parents and children, you don’t have to be related to someone to become an authorized user on their account. Once a cardholder adds you to their account, you’ll get your own credit card, earn rewards (if applicable) and get credit for on-time payments and a credit utilization ratio. The fastest and easiest way to build your credit score - if it’s an option for you - is for a family member or friend with a good credit to add you as an authorized user to their credit card.
You can do all of this with a credit card, but if you don’t qualify, check out these five methods. “Building credit history isn’t done overnight, but is done over time,” says Irwin. With more traditional methods - like simply paying your bills on time - you may have to wait six months to start building credit and several years to achieve a top score. The best methods - like being added as an authorized user on another’s card - allow you to gain some credit right away, although it can still take six months or more to achieve a good or excellent score.
Fortunately, you can still build credit, through avoiding missed payments on everyday bills, not borrowing too much and other good habits, so long as you are willing to be patient.
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