Boost Your Credit Score

What Are TradeLines? “Piggybacking” Tradelines is a practice involving seasoned trade lines, sometimes called piggybacking, which uses a creditworthy borrower’s accounts to improve the credit rating of an unrelated third party.

The creditworthy borrower adds the third party as an authorized user of his lines of credit, but does not actually provide the third party with materials (credit cards, account numbers, etc.) that would permit the third party to make charges against that account.

The benefit to the third party is an improvement in their personal credit rating—their credit score increases. However, this does not change their entire credit record, but merely increases their credit score as a result of the newly added tradeline. This may make the third party look like a better credit risk, and may improve the third party’s access to new credit. However, a credit score is only one aspect of the lending process; that is, the borrower must pass all underwriting procedures, which include much more than the credit scores of the borrower. 

 

 

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