FICO Backtracks on “Authorized User”

One of the classic ways that students have been able to improve their credit scores has been through the “authorized user” loophole. In this scenario, you are added as an “authorized user” to someone else’s credit card. Preferably someone who has good credit (traditionally your parents ). This boosts your score almost instantly.
As you might guess, it didn’t take long until someone figured out that you could make money doing this. Want to improve your credit score before buying a house? Lay down your money and get paired up with someone else who is willing to let you “piggyback” on …read more