FICO said they are eliminating multi-party accounts from
their score computation later this year.

On Jun 29, 6:37 am, joetaxpayer <joetaxpa...[at]nospam.com> wrote:
- quote -

Joe -

Thanks for that update. I will definitely look at adjusting the
article. Thanks for the heads up!
Lauren

smartloanstart[at]gmail.com wrote:
- quote -

You may want to research a bit more and update that page. You state,
"According to the Fair Isaac company, piggybacking has not been declared
illegal, and they have no current plans to change their formula or close
the loopholes in their scoring system."

Fair Isaac's web site references a June 5 article stating, "Fair Isaac
Corporation (NYSE:FIC) today announced that it will adjust its FICO
scoring formula to ensure the continued reliability and predictive power
of FICO scores. This action is intended to protect lenders and FICO
scores from abuse of authorized user credit card accounts by a new kind
of credit repair service that sells consumer credit card histories to
credit applicants in order to purposefully misrepresent the applicants'
own credit history to lenders and other businesses."

The abuse, while perhaps not illegal, undermined the whole purpose of
the system, to adjust one's interest rate based on their credit risk.
JOE

I just thought I'd put in my two-cents about Piggybacking on Credit
Scores. I have been in the mortgage and credit industry for over 20
years, and have recently written a short article on piggybacking. I
think it's a good idea to avoid the "paid" services that promise a
higher score for using someone's credit history. In cases such as a
parent wanting to help their college student establish a credit
history, it can be a good idea. In case anyone is interested, a I
wrote a brief article on the subject and posted it to my site at:
http://www.smartloanstart.com/piggyb...t-history.html.

Lauren