It goes without saying that your credit score history is crucial to any monetary decision that is made. You need an apartment? They’ll check the credit score. You need a loan for a car? They’ll check the credit score. You need to take out a mortgage? Best believe they’ll check the credit score.
Lenders are continuously keeping an eye on your credit history in order to see how likely they are to repay their debts. Because of this, your credit report is an important piece of financial history that attributes to your creditworthiness when the time comes to rely on it.
Below is a list of information that can be found on your credit report:
● A list of debts and history payments
● Any bills sent to collections (you want to avoid this at all costs. Your credit score can drop by a substantial amount.)
● Inquiries made about creditworthiness
● Public-record information (i.e. bankruptcies)
A bad credit score will not only limit your lifestyle but it may take some time to build back up. If you find yourself in a snag and are looking for a way to boost your credit report, credit piggybacking is one of the quickest and safest ways to help you get that loan, apartment, or car.
Credit piggybacking is exactly what it sounds like. You pretty much hop onto someone’s impeccable credit card account and receive all the benefits of their credit score. The history of credit piggybacking is not a new phenomenon. It was a popular idea with parents who allowed their children to become an authorized user on their own account in order to help them get a jumpstart on their credit before they were old enough to build their own.
Credit piggybacking essentially partners you with someone who has a high limit/low balance credit card. Once you have been added as an authorized user, their credit report will basically overshadow your own and will reflect on your personal credit history. There is, of course, one rule: though you are added as an authorized user to the account, you will hold no power in making purchases and you will not be able to make changes to it. BUT you will not be responsible for any bills related to the account. You will just be benefiting off the good credit history and have an immediate FICO credit score boost.
*Keep in mind that each person has unique credit needs and it is not a one-size-fits-all situation. Each authorized user will have a different credit report, but all that matters is that the report/history will no longer reflect anything negative.
If you’re interested in boosting your credit score almost immediately, Personal Tradelines is here to help you become an authorized user on a promising account. Our 24/7 support line is available at any convenient time to find the best wholesale tradeline option with a 60-day money back guarantee!