A bi-partisan bill was re-introduced this year that would allow Government-sponsored Enterprises (GSEs), Fannie Mae and Freddie Mac, to use other credit scoring models besides FICO. For decades, the GSEs have been mandated to use FICO scores to determine credit […]
Over the past few years, consumers have had an easier time tracking and monitoring their own credit scores. With free services like CreditKarma.com and WalletHub.com, people are now more capable of having an idea of how financially credible they are […]
There has been a lot of buzz on the internet lately about the changes that are coming to millions of credit files on July 1, 2017. The word is out that millions of judgments will magically disappear from credit files […]
You Can Be Single And Still Buy A Home More young adults in America are choosing to hold off on marrying for many reasons including solidifying their careers and improving their financial position before getting married. Based upon this […]
Most people have a basic understanding of how their credit score works. They know that in order to qualify for large loans, they need to have good credit. For the most part, they understand that things, like avoiding excessive debt […]
There are a number of factors and scenarios that can negatively affect your credit score. Fortunately, even the most credit-damaging situations can be remedied. The following are four scenarios that can damage your credit score and what you can do […]
Over the past decade, a person’s credit score has become ever more integral to their financial health. There are a number of factors that influence a credit score but one of the least recognized is a person’s job title. To the […]
In this increasingly convoluted and politicized the world, it is indeed difficult to surprise the jaded but informed observer. Still, the People’s Republic of China (PRC) has really outdone itself with its latest efforts to improve upon the standard credit […]
Having a creditor just forgive a loan outright or to cancel it for partial payment may seem like a godsend to most people. However, that debt forgiveness can have some serious repercussions that the average consumer may not consider. Your credit score does not […]
There are a number of different companies that provide software to banks and consumers for determining the credit scores of Americans applying for credit or mortgages. The biggest of these companies is FICO® (Fair Isaac Corporation). Two years ago,FICO® announced […]
Through a method known as “credit piggybacking,” BoostMyScore adds you as an Authorized User (AU) to one or more high limit, low balance, seasoned credit cards, which drastically improves your credit score rapidly! While you do not receive the physical card or ability to use the credit line, you will receive the amazing benefit of having that particular credit card “copied and pasted” on to your credit report. This extreme increase in the limit to balance (utilization) ratio and overall average age of the revolving accounts on your credit report gives you the biggest possible FICO® score boost in 60 days or less, guaranteed! To learn more about how your credit works, and how piggybacking can boost your credit score, click the button below.
BoostMyScore has commissioned extensive research into the legality of “piggybacking”. Multiple law firms, the Federal Reserve Bank, the Federal Trade Commission, and various Attorneys General have all looked into the practice in fine detail, and each have determined that the act of paying someone to add another person to their existing credit card account as an Authorized User is perfectly legal. While the banks and credit reporting agencies may dislike the practice, credit piggybacking is actually protected by Regulation B of the Equal Credit Opportunity Act. To learn more about these legal opinions, click the button below.
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