Piggybacking credit FAQs
Piggybacking credit is the quintessential term used to describe the process through which a user of authorized user tradelines increases their credit scores. “Piggybacking” is slightly literal; just as you would jump on someone’s back for a piggybacking ride, you jump on their back for a credit ride. That is, when you’re added as an authorized user, you’re piggybacking on the credit history previously established by the primary account holder. This information reports to your credit report even though you weren’t the one to establish that previous credit history. We have gathered a list of questions we’ve been asked (repeatedly) over the years concerning this topic. Please find below the questions and answers and please contact us should you have any questions.
My husband and I were added to a few of my brothers credit cards. Its been over 45 days since he did this but my husband’s credit report has not been updated. Mine updated almost immediately. why would this happen?
Well, tell your brother to reach out to us if he wants to make some money 🙂
First, it may not be happening. Perhaps your brother didn’t add your husband. Perhaps he did add him, but much later when you said “Hey, the account didn’t show my his account,” which maybe your brother go “Oh, crap… ummm, let’s add now.” Maybe he did add it and maybe you’re not actually updating his report. Perhaps it is there?
Alternatively, he could have fraud alerts and security freezes. Your addressed might be different. Maybe your brother put his name wrong.
I could go on for days.
The short answer is… this is why you hire a company to do these things 🙂
If i get taken off a piggybacking account will my credit score drop down again?
Yes, but slowly over time. Here’s a quick video that explains it: https://www.youtube.com/watch?v=_fi9JZxNgBQ
I know you guys are tired of this question….but I just need clarification. As you know, FICO stated that Fico 8 would
“To protect lenders and honest consumers, FICO® Score 8 substantially reduces any benefit of so-called tradeline renting. That’s a credit repair practice that entices consumers into being added to a stranger’s credit account in order to misrepresent their credit risk to lenders.”
Is this really the case? If so, is there a way of getting an AU account to report as “legitimate” so you get the full score increase benefit instead of getting the ‘minimum benefit’?
Joe, we love questions and never get tired of them. Your question is a good one, but has been answered many times and I have no problem answering it again because if you have this question someone else might have it as well.
You did a good job framing your question from FICO’s perspective. But, their perspective is irrelevant. They’re only looking after their reputation and painting themselves as the good cops. In reality, there is only one perspective that matters: the law. Well, in this case, Federal Reserve Board regulations. You can read the details about what I’m about to say here: https://superiortradelines.com/news/fico-08-fico-score/
To bottom line it: the law requires that banks shall consider authorized users and if they don’t they are subject to fines. Since that is the case, a scoring model which doesn’t include authorized users with force the bank to violate the law if the bank used it. As such, no one uses the FIC0 ’08 scoring model.
There’s not a thing as an illegitimate authorized user. That’s like saying there’s an illegitimate cosigner.
The entire FICO ’08 extravaganza was merely public relations stunt to inspire confidence in their algorithms; nothing more.
If you were to add trade lines to your file today, your credit score would increase. Period.
Whether your score increased to a economically significant extent depends on what’s currently in your credit report and what kind of funding goals you’re trying to obtain.
To discuss those issues, we have to talk by phone at 800-431-4741 or you can get started at https://superiortradelines.com/start/
Can piggybacking increase one’s available credit and potentially lower one’s credit utilization on their credit report?
Mathematically and score-wise, yes, but not actually. Meaning: Your debt to credit ratio will go down, but, obviously, it will not change the amount of debt you have (so your purchasing power will not change, but your credit score will increase). Does that make sense? If not, please follow up and I will clarify.
Say I approach my Father who has his credit card accounts in good standing with 100% payment history and lower than 10% credit utilization. Could adding me as an authorized user effect his score in any way?
No. It’s a one way street. However, you if have the card in your possession and he gave you spending ability and you racked up debt, that could negatively affect his credit score. But, the mere act of adding you as an authorized user does not affect his credit score in any way.
If I’m piggybacking off of someone with a credit line of 50k. How soon would I️ be able to get approved for that same credit line?
Kenny, it’s a great question. So, it doesn’t work the way you suggest. Piggybacking off of a tradeline does not result in obtaining a similar line. Piggybacking increases your credit score, only. When banks underwriter your application, they will determine the limit of your line by calculating your income and current debts/payments (that is, they will determine your borrowing power). Piggybacking off of authorized user tradelines helps with funding, but in other ways. For example, piggybacking can increase your average age of accounts. It can decrease you debt to credit ratio. It can increase your positive payment history. All of this results in a better credit score, but none of this (as far as authorized user tradeliens is concerned) will increase the amount of money a bank will lend to you… that’s all determined by your ability to repay, i.e., your income minus liabilities. Piggybacking will get you passed certain thresholds like being approved at all or getting you approved with favorable rates. Hope that helps!
Are you guaranteed to report to all 3 credit bureaus
Nope. We guarantee 2 out of 3 credit bureaus. Piggybacking tradelines can increase credit scores on the bureaus to which they report and lenders typically pull one bureau or a “mid score,” which means they remove the high score and the low score and pick the score in the middle. So, when you’re piggybacking, you should know what you’re lender is going to do. If they pull a mid score, for example, which 90% of lenders do, then you don’t need 3 out of 3, you only need 2 out of 3, because the middle score will be positively affected. Hope that helps!
With the piggyback credit solution can u guarantee reporting to all 3 credit bureau
How’s long should someone piggyback? Is this a lifetime agreement or is there a certain timeframe where the authorized user needs to be removed?
Our agreement provides for 45 days of active reporting. Thereafter, it could stay for many years. You want to take advantage of the credit increase as soon as possible because the impact of the tradeline goes away over time, even if it is still there after many years.
Is the more cards I’m authorized on, better my chances of quicker results? If they are all in good standing and 100% on time payments
Yes and no. More from nothing is one thing more from a lot is another. You can overdo it. Aspirin is good for you, but if he took too much it would make your stomach bleed. In the same way, too much of a good thing can be bad for you. The trick isn’t guessing, but discussing your specific credit situation with someone who is been dealing with trade lines for many years. Go here: https://superiortradelines.com/start/ And we can give you a better answer.
Hey, my question is if I let someone piggyback how long before I can remove them? And if I so remove them will their score drop or remain the same
Hey Agustin! How long you let someone piggyback depends entirely on your goal. Friends or family? As long as you want. As a business practice, no more than two cycles. Yes, there score will begin to decrease month by month after you remove them. We have a great video here about how long tradelines last. If that didn’t full answer your question, let me know.
Can someone with a blank credit score, can still piggback and get a 750+ score? The more cards the better or faster?
Theoretically, yes. However, how is the credit blank? Is it a CPN? Is it a foreign national just starting out with credit? If it’s a CPN, we won’t work with you and you shouldn’t waste your time or money with CPNs. If you simply have no credit, you’re in a really good situation and you can expect massive increases in credit score after adding authorized user tradelines.
Is more better? Not really. You can abuse the process and it can actually backfire on you. This is why we recommend that you get started here and let us (at no cost to you) review your credit, goals and situation and make a recommendation.
If I am the person who allows the company to use my credit cards to help strangers boost theirs, 1. Is it legal to get paid to do this and 2. Can my credit ever get hurt. Like if this stranger ran their credit report would they be able to get my credit card number and end up using my credit card fraudulantly even after they were removed? I know someone who does this and he suggests I try to make extra money. I’m not sold yet
You’re right to be cautious! Luckily we have one of the best vendor programs in the country! To address your questions:
1. We provide 100% compliant services. if you are concerned about the specifics of legal matters it is always best to consult an attorney (as we do regularly).
2. No, your credit would not be hurt as the protection of our cardholders is of the highest priority through all transactions. We qualify and screen every client individually to ensure that our cardholders, and their accounts, are safe.
We have a vast network of vendors that are generating anywhere from a full to supplemental income by offering their products to our clients. If you would like more information on compensation, or general questions pertaining to the vendor program fill out the following form:
https://superiortradelines.com/start-old/supply/
And a member of our vendor team will reach out to you on how to get started.
Do Amex cards that are technically “charge cards” and not “credit cards” work for piggybacking? If so, how does one figure out a maximum utilization number, since they don’t report a “credit line”?
What’s the minimum number of years for a credit card account to be open and in good standing should I consider piggybacking off of?
It is a good question and the answer depends on your age, but I wouldn’t do anything less than 2 years (maybe one if you’re really young).
Current credit simulator says my score would go down if I open a credit new credit card. If I become an author rise user on a three-year-old account should my credit Score increase?
I bought a house in my name only in 2005. I was married but my wife had declared bankruptcy in 1999 and could not be out on the loan.
I am now finding that she has had the loan moved to her credit account, to improve her credit rating since the bankruptcy, as a single female (while never in her name or paying it). How can this be done, is there a way I can fix this, and are there penalties for this?
Hey Matias, cool name! 😉
Okay, first of all, we know the facts do not result in the conclusion, right? Meaning, it doesn’t make sense. So, there’s either an error in the facts or an error in the conclusion. My guess is that the facts are wrong. My guess is that she WAS on the loan originally and that she “reaffirmed” the debt during her bankruptcy and it remains on her credit report.
Alternatively, there was some kind of misrepresentation (on her part to the bank) which resulted in the bank reporting it to her credit.
I can think of no other options, based on what you described.
Regarding “fixing it,” do mean that you want her removed from the loan so that it stops reporting to her credit report? This should be easy, so long as that it is an error. Simply call the bank and explain that she was never a signor or borrower of any kind. However, I suspect (again) that she WAS legitimately put on the loan.
Penalties? Eh, if she did something wrong, sure. Even if you figure out what she did, this stuff 1) extremely hard to prove and 2) not a large enough concern for authorities or bank fraud departments, so likely nothing will happen.
There was some good and bad in that answer, but I think it was correct.
If you find out more details, let me know and I’ll address those, too.
Thanks!
How do apply to get paid for my credit?