ICB Trade Lines – Piggyback Credit Increases FICO Score
Fair Isaac Corp., the company responsible for FICO credit scores, has decided that when it unveils a new version of its credit score system in September, it will close the loophole that allowed piggybacking. Angry proponents of piggybacking say they’ll organize a grass-roots campaign to fight against the change. With piggybacking, a consumer with poor credit is placed as authorized user on the credit card of a person with a stellar credit history. Authorized users benefit from having the payment history of the primary cardholders show up on their credit reports, thereby improving their credit scores. Lenders have complained that it is fraud and distorts the credit score system. Internet companies have created an industry by playing middleman — paying a small sum to those with good credit to take on those with bad credit as authorized users, then collecting healthy fees from those consumers. Now one of those Web-based firms has threatened to organize an effort to expose problems in the credit scoring system. “Our very existence (proves) that the FICO system is so flawed,” says John Coates, spokesman for Instant Credit Builders based in Largo, Fla. Fair Isaac says that starting in September it will ignore authorized users as it calculates the renowned FICO credit score. “Fair Isaac has become aware that Web-based services are using authorized trade lines to defraud lenders,” says Craig Watts, spokesman for Fair Isaac. “While we work with the financial services industry on …
Filed under credit by on Nov 17th, 2010. Comment. 
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Comments on ICB Trade Lines – Piggyback Credit Increases FICO Score
Guy’s they closed this loophole for good lol
please let me know all info needed.
thanks
hook me up with this info i thought you couldn’t do it anymore
My dude. Do you have the company info? I need that. I you could get me the company info it would be nice. Thanks in advanced.
it really does work. i did it after my neighbor experimented and his score went up 110 points in like a mnth!! mine went up 150!! I have the company info if anyone wants it.
can you put me down with the company you used for your credit repair. and i will give you a fee for helping me out.
what company did u use to buy your tradelines and call me at 843 314 3778 now ask for michelle
Please let me know how you did that.
Man I would love to know exactly how let me know!!!
Who was your contact and how much did it cost?
Hi can you tell me your contact on how to fix the credit? How much did it cost you? thanks
What company did you use for the tradelines.
I had a construction business I had to close and my credit dipped below 600, it was 750.
can you tell me which company you used and how long it took 4 your score to get raised
The idea still works i did it and it worked my score was 536.. then i bough more trade-lines and it jump to 787.. now its 822… i was able t buy my new house 678,000 on sale 356,000 rate @ 2% i pay only 1265 a month… abd i got a bmw 745Li and a BMW X5 truck.. i can get just bout anything i want thanks to this its real and it works and its legal.. i love it!!
This idea is no more. A better idea was always to actually borrow money yourself and hold it on deposit. Then you have the credit and the seasoing funds on deposit. You can borrow $50k to $5 mil. with NO CREDIT CHECK at creditloader dot com.