Credit Score in Philadelphia>Question Details

Sjonesu, Home Buyer in Philadelphia, PA

Does piggybacking trade lines help increase credit scores as seen on the internet. Are the actions legal?

Asked by Sjonesu, Philadelphia, PA Wed Jun 18, 2014

Could someone recommend a legit company that provides this service?

Help the community by answering this question:


I'm assuming, based on your previous questions, that this is in regards to getting a mortgage on a property. Mortgage lenders use FICO scores to help determine eligibility for a mortgage. My understanding is with the new FICO system, those added ("piggybacked") to others' credit lines as authorized users will not see a big impact in their credit score if the people are not related. Additionally, while it may be legal, there are many other pitfalls to be careful of. I would suggest doing some additional internet research so you understand the risks involved and weigh those with the slight impact it will likely have.

If you are looking to repair your credit for the purchase of a property, I would suggest speaking with an experienced mortgage broker. They generally have access, either in house or by referral, to credit counseling services that can help you with your credit problems.

Sandra Hazeltine, REALTORĀ®
BHHS Fox & Roach, RealtorsĀ®
Center City-Rittenhouse Hotel
210 West Rittenhouse Square
Suite 406
Philadelphia, PA 19103
Mobile: 609.618.4119
Direct: 215.875.3357
Office: 215.546.0550
Fax: 215.546.9781
0 votes Thank Flag Link Thu Jun 19, 2014
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