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How credit piggybacking can boost your credit score

How credit piggybacking can boost your credit score

ABoost Credit Score low credit score can make your life more difficult at every turn. You will be charged higher interest rates on outstanding credit card balances; credit and loan applications might be summarily rejected; utility companies may force you to put down a deposit; you may find it difficult to rent an apartment; and you might not even be able to get your own cellphone.

What will not work

Because a low credit score can so effectively keep simple necessities out of your reach, offers to increase your credit score are a dime a dozen. But they generally fall into one of two categories: Either they charge obscene amounts of money to dispute items on your credit report (with mixed success at best), or they use shady “black hat” methods that can end up doing far more harm than good.

Credit piggybacking

Fortunately, there is a better, viable way for you to improve your credit score. It uses a little-known method called “credit piggybacking.” This method adds you as an Authorized User (AU) on a high-limit, low-balance credit card that has a long, perfect payment history. As an AU, you will not be able to use the account or make changes to it, but you will also never be responsible for paying off any balance that may be owed on the account.

The original use for the AU feature was to give Primary Cardholders the ability to add their spouses, children, friends or employees to their account so they could have access to the available credit line. But a coincidental benefit occurs during this process: The account history for that credit card – all the way back to when the account was first opened – is added to the AU’s credit report.

Cards with benefits

This “coincidental benefit” happens to come along with an immediate FICO® credit score boost. While you will not receive a physical credit card or access to the credit line you have been added as an AU on, you will receive the spectacular benefit of having that credit card – and all of its history – essentially “copy/pasted” onto your credit report. This extreme increase in the limit-to-balance ratio and overall age of the revolving credit accounts on your report gives you the biggest possible FICO® score boost.

Of course, because every person has unique credit needs and a unique credit history, the size of every score boost will be different. The primary factor behind how large of a boost you will receive is the current number of credit cards open on your credit report; the fewer that are currently open, the bigger the boost credit piggybacking will give to your credit score.

How we help you

The second factor behind the size of the credit score boost is the credit limit, balance, age and payment history of the card you are being added as an AU on. That is where BoostMyScore works best. We find the highest-limit low-balance credit cards with long, perfect payment histories in order to maximize increase in your credit score. In addition,  it works faster than anything else – in less than 60 days guaranteed, or your money back.

With the help of our carefully curated tradelines, you can mitigate – or eliminate – the problems and difficulties associated with a low credit score. With the increase in your credit score, you will finally be able to secure a cellphone contract. Better, you may be able to qualify for a home or auto loan, putting you on the path to an easier, happier, wealthier life.

Bill Airy

About the Author:

Bill Airy is the CEO and Founder of BoostMyScore. For over 12 years he has helped American consumers get a second chance at a better financial life by helping them to improve their credit score. He regularly publishes helpful content on this Blog to educate others about Credit Scores and best practices when trying to improve them.

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BoostMyScore Team