28 May 2014


If you found this page by searching “piggybacking definition” in Google, I bet you skipped over some of the dull, conventional posts that spare no chance to discourage you to escape from poor credit circumstances. You probably also got bored with the obvious and unrevealing definitions of piggybacking tradelines to boost your credit score. Here are the most relevant and accurate definitions of piggybacking as it relates to credit and increasing credit scores:   After paying a fee, you are listed as an authorized user on someone else’s credit card, someone with a healthy credit rating. You don’t actually get to use the card, but the credit history of that card appears on your credit report, making it more attractive. Brigitte Yuille Bankrate.com Piggybacking is the act of improving your credit score or rating by becoming an authorized user on someone else’s credit card. By doing this, you receive all the benefits of having good credit without actually having built any of the credit yourself. It is most often used by parents with their children or with spouses. For piggybacking to work, the “good credit” person must add the “bad credit” or “no credit” person as an authorized user, not the other way around. CreditCards.com The practice in which a broker conducts a transaction on his/her own account after filling a similar order on behalf of a client. For example, if a client sells 10,000 shares and the broker owns some shares in the same company, he may piggyback by selling his own shares. A broker piggybacks when he/she believes that the client has insider information, or at least a better understanding than the broker on the market’s future movements. Piggybacking should not be confused with piggy back registration, which is a different concept altogether. Farlex Financial Dictionary. Farlex, Inc. Consequently, becoming an authorized user on an old account with a good payment history, may improve an individual’s credit score, potentially increasing access to credit or reducing borrowing costs.  As a result, the practice of “piggybacking credit” has developed.  In a piggybacking arrangement, an individual pays a fee to be added as an authorized user on an account to “rent” the account’s credit history. Finance and Economics Discussion Series Divisions of Research & Statistics and Monetary Affairs Federal Reserve Board, Washington, D.C. Robert B. Avery, Kenneth P. Brevoort, and Glenn […]

26 May 2012

piggybacking credit history legality

Piggybacking credit and piggybacking tradelines is the topic of this article. Piggybacking is the same thing as adding authorized users, adding trade lines, etc. It’s all synonymous. The term “piggybacking” refers to hitching a ride on someone else’s good credit standing. The origins of piggybacking credit – a very brief discussion. The ability to piggyback off of someone’s credit (or more accurately stated, their credit card), came about as the result of the 1974 Equal Credit Opportunity Act. Piggybacking credit was actually an unintended consequence of the way this law was written. To understand in more detail, you need to read the file “piggybacking credit” attached below. Does piggybacking credit or piggybacking tradelines still work? Despite what the “rumor net” will tell you, piggybacking credit has not changed since 1974. A lot of people search for piggybacking followed by 2010, 2011, etc., as if the concept has changed. To end this search, all you have to do is keep up with the regulation that implemented this concept. When the Equal Credit Opportunity Act changes, then it’s time to re-evaluate whether or not the piggybacking still works. The legality of piggybacking credit – with a disclaimer… First, we are not rendering legal advice. We are merely writing as laypersons and pointing you in the direction of what we find relevant on the matter. The document discussed above and as attached below explains the legality of piggybacking very concisely. Here’s an example: [blockquote]This is possible because creditors generally have followed a practice of furnishing to credit bureaus information about all authorized users, whether or not the authorized user is a spouse, without indicating which authorized users are spouses and which are not. This practice does not violate Reg. B.[/blockquote] Indeed, after someone has done their research on the matter, they set out on a new search trying to find a reliable tradeline company. This post isn’t a sales pitch, so we will leave you with this. Read our post, Why Buy Tradelines From Superior Tradelines, and if you have any doubts left, please keep looking and find for someone else. Otherwise, give us a call at 800 431 4741 or email us at info@superiortradelines.com Download “Piggybacking credit” files: Piggybacking Credit – piggybacking credit

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