I want to establish my credit very quickly?

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I was reading in this book, that you can establis AAA credit in 30 days. Simply by just opening up 1 savings accout with bank "A" and asking for a $100 dollar loan. Then openiing up another savings account with bank "B" and ask for a $100 loan. Finally, openiing up another savings account with bank "C" and ask for a $100 loan. then begin making payments on each with the money borrowed. Ultimately, when you apply for credit in the next 30 or 60 days, your credit report will indicate you have 3 banks loans (<--banks loans are the most difficult to get approve for). The creditor will view this as a low risk person to lend to.

Does anyone know this to be true, furthermore does anyone know a very quick way to establish credit?

I want to establish my credit very quickly?

In theory this would work, but in reality it will produce a good score but it wont mean anything.

Credit scores are made up of the following;

1. Payment history 35%

2. Time in bureau 15%

3. Type of credit 10%

4. New credit 10%

5. Debt to credit ratio 30%

As you can see 1,2&5 are the most important as far as score goes. Under your plan you will have very little history or time in bureau and your debt will be 100%.

What you need to have the best score and profile is 3 credit card accounts (revolving) with balances below 30% of your credit limit and 2 auto, boats, homes, furniture or personal accounts (installment) all with good long pay history's.

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I want to establish my credit very quickly?

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