No. We believe FICO® 08 was really just a propaganda scare tactic used by the Fair Isaac Corp to make all of us confused and uncertain. Based on our experience, the piggybacking boosting strategy still works just like it always has; nothing has changed. If by some stretch of the imagination FICO decided to assist banks in violating the Equal Credit Opportunity Act by making illegal adjustments to their credit scoring model, it would take years, if ever, for the new version to effectively permeate the financial industry. For example, simply because Microsoft released Windows 11 doesn’t mean that everyone in the country is going to the store tomorrow to buy the software, install it on their computer system, get it to work effectively, and then start using it. This is a very similar process that would have to be taken by every bank, credit union, credit card company, mortgage broker, car dealership, etc. in the entire country. Now knowing how it all works, you can imagine how much time you have to enjoy the benefits of our “credit renting” services…just in case.

In addition, as you can see in Regulation B of the Equal Credit Opportunity Act, and in our 2008 Press Release, it is unlawful for any lending institution to ignore credit history present in a credit report, regardless of authorized user status, or otherwise. If a bank were to reject your loan application or artificially reduce your credit score as a result of the presence of an authorized user tradeline, they would likely be in violation of ECOA and liable to pay out damages through a civil claim or government-imposed penalty.

That’s the legal reason why adding an AU tradeline to your credit report can help and why the Fair Isaac Corporation (FICO®) can’t stop us. The logical reason is that over 40 million people in the United States are listed as Authorized Users on someone else’s credit card. What, are the banks going to ignore all those children and recently divorced single moms who never bothered with their credit but now have to because their marital situation changed? I’d like to see Chase Bank or Wells Fargo defend THAT!

BoostMyScore? Yes, please.

Your credit score contains vital information that will affect your financial well-being for the rest of your life. Educating yourself about your FICO® score and your credit report and working with BoostMyScore is an amazing way to empower yourself and improve your financial standing.

Call BoostMyScore today at 1-800-531-1472 and take the first steps on the road to improving your credit score.