Piggybacking credit could be coming to a end!

Piggybacking wich is one of the fastest ways to gain a credit score boost, seems to be coming to a end! I have heard that FICO is trying to
change its formula to end piggybacking of credit as early as October. This will not happen overnight, so you still have plenty of time to take advantage of this technique. FICO said it would try the new formula with just one of the bereaur’s, and then roll it out to all three.

Piggybacking credit is the fastest way to gain a boost in your credit score. What you do is get a person with a good credit score to authorize you on
some of his or her credit cards. In effect the your credit score is boosted by the persons credit file you are piggybacking on. I have read
reports of people going up over 100 points in on month by piggybacking on as little as 3 accounts!

If your looking to make a major purchase in the next few months and your credit score is not the greatest you should consider this right away.

• The frist step is to enroll in a credit monitoring service so you can check your score constantly.

• Next is to find a few people (hopefully family or close firends with good to great credit) to add you to there oldest revolving credit accounts.

If you can get on 2-3 of these accounts you should see a boost to your credit score in one cycle. A credit cycle could be as long as 2 months depending
on how often the card companies report to the credit agencys.

I will keep everyone up to date on what happens with this. But like I said currently it is the quickest way to boost your credit score! It would be unfortunate to see it go away. It has helped tons of people get into a home or car loan at an affordable rate.