Piggyback can lift your credit score

It's called piggybacking, and like the childhood playground game, it involves getting a lift. Only with this piggyback ride, it's your credit score that gets a boost.

Critics claim it's lenders who are being taken for a ride.

Piggybacking works like this: After paying a fee, you are listed as an authorized user on someone else's credit card, someone with a healthy credit rating. You don't actually get to use the card, but the credit history of that card appears on your credit report, making it more attractive.

Internet sites that make these connections claim that this ride on someone else's credit history can raise your credit score almost instantly. Higher credit scores mean better deals and lower interest rates on loans.

You will, of course, pay for the privilege -- often thousands of dollars.

And why would the credit card holder allow you to piggyback on his or her lofty credit rating? Read the rest of the Article