How Do You Increase A Credit Score Using The Piggyback Method?
The “piggyback” method of increasing credit scores is a useful tool to know about for someone needing to build credit and increase scores. This happens when someone adds you as a signer or authorized user on their credit card account (you wouldn’t actually have use of the account). When the account is reported on your credit report, the card owner’s entire payment history of that particular account shows up on your credit report, and is reflected in the scores. If the card owner has a long history of low balances and timely payments, the authorized user’s scores will be increased. A college student may not have had time to establish very much credit. Just after graduation, he discovered that a good credit history or particular score was needed to rent his first apartment. His only account had a year of history, and he was taking good care of it, but it wasn’t enough. He might talk with his dad (or other person with a great credit history who is willing to help) to discuss what he neede
