A hard bias structure for biasing a free layer in a MR element within a magnetic read head is comprised of a soft magnetic underlayer such as NiFe and a hard bias layer comprised of Co.sub.78.6Cr.sub.5.2Pt.sub.16.2 or Co.sub.65Cr.sub.15Pt.sub.20 that are rigidly exchange coupled to ensure a well aligned longitudinal biasing direction with minimal dispersions. The hard bias structure is formed on a BCC seed layer such as CrTi to improve lattice matching. The hard bias structure may be laminated in which each of the underlayers and hard bias layers has a thickness that is adjusted to optimize the total H.sub.C, M.sub.rt, and S values. The present invention encompasses CIP and CPP spin values, MTJ devices, and multi-layer sensors. A larger process window for fabricating the hard bias structure is realized and lower asymmetry output and NBLW (normalized base line wandering) reject rates during a read operation are achieved.