has anyone had an experience with credit piggybacking? is it legal?does it work?

Public Comments

1. It is not legal, it does work .. but they are implementing new rules and regulations to stop it. I would stay as far away from that as possible...kr Good Luck!
2. Piggybacking is legal and does work, but the benefits will be ending soon. In September, when the company issues an updated version of its credit score system, the authorized user category will no longer have an impact on credit scores. It appears that this change will be retroactive, thus rolling back the scores of "authorized users."
3. It is legal and it doe's work. This used to be the way parents established credit for their children. But there is a company out there that has been selling trade lines to people to raise their score, sometimes as much as 150-points so they could get better rates on home loans. This has resulted in the mortgage industry making thousands of loans at reduced rates to people that really did not deserve them and this has resulted in thousands of foreclosures all over the nation. The mortgage industry complained to the FTC and starting in September the way that credit scores are calculated will change so authorized users will not get near as many points added to their scores as they do now. Also it will be retroactive so it will hurt those that already have these accounts on their credit. All thanks to some people trying to beat the system.