For over 40 years credit piggybacking has been a credit-building strategy that has helped consumers purchase 

tradelines.

 

Establishing tradelines is an essential part of credit. Credit is a necessary part of modern life for most people., ultimately your credit entirely depends on what tradelines you have and how well you manage them. The individual tradelines are simply the accounts that you have on your credit report. Every account on your report, whether its a mortgage, student loan, credit card or some other type of credit, is referred to as a line of credit or Line of Trade.

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Traditionally, parents or other family members add their kids to their credit cards as authorized users to gie them a good head start in life. Unfortunately, not everyone is blessed with a family member that ahs good credit, Additionally, a large-scale study of 300,000 credit profiles concluded that approximately one-third of our entire nation has one or more authorized user tradelines in their credit file.  The same study pointed out that minorities and the lower demographic sectors of the inequality that  exists in our financial system. Tradelines help reduce this inequality by providing an equal opportunity for those who were not fortunate enough to have a friend or a family member provide such a service. 

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Building credit can be a challenge, partially for those who have never had credit before. Becoming an authorized user on a credit card can provide a pathway to credit building for many consumers.

 

 

 

What are credit scores? 

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Payment history      35%

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How much you owe      30%

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Length of history         15%

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Mix Credit        10%

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New Credit      10%

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