Finance and Economics Discussion Series Divisions of Research & Statistics and Monetary Affairs Federal Reserve Board, Washington, D.C. Credit Where None Is Due? Authorized User Account Status and ”Piggybacking Credit” Robert B. Avery, Kenneth P. Brevoort, and Glenn B. Canner […]
Fair Isaac Corporation (FICO) is the company which designs and implements the most universally accepted personal credit scoring model used today. It is commonly known as the FICO score. The three major credit reporting agencies, Equifax, Experian, and TransUnion, utilize […]
The Fair Isaac Corporation developed the FICO score to give credit issuers an analytical tool to determine a borrower’s likelihood of default. Since its development,1 the FICO score product has become the standard consumer credit score used by creditors to […]
Only a low credit score stood between Alipio Estruch and a mortgage to buy a $449,000 Spanish-style house in Weston, Fla., a few miles west of Fort Lauderdale. Instead of spending several years repairing his credit rating, which he said […]
Source: http://www.creditnet.com/blog/piggybacking-whats-deal Piggybacking, a technique often used to build credit by paying to become an authorized user of a stranger’s credit card account, has been under fire since it first gained widespread popularity in 2007. In practice, the loophole in the […]
Through a method known as “credit piggybacking,” BoostMyScore adds you as an Authorized User (AU) to one or more high limit, low balance, seasoned credit cards, which drastically improves your credit score rapidly! While you do not receive the physical card or ability to use the credit line, you will receive the amazing benefit of having that particular credit card “copied and pasted” on to your credit report. This extreme increase in the limit to balance (utilization) ratio and overall average age of the revolving accounts on your credit report gives you the biggest possible FICO® score boost in 60 days or less, guaranteed! To learn more about how your credit works, and how piggybacking can boost your credit score, click the button below.
While BoostMyScore does not offer legal advice or opinions to determine if tradelines are legal, we have located extensive evidence to show it is not illegal. In an effort to better educate the FTC and the Colorado Attorney General, BoostMyScore has provided information about our business practices. We also have sought the opinions of several lawyers, none of whom found the tradeline piggybacking practice to violate the law.