Piggybacking on someone’s credit card can be an excellent way for the person piggybacking to improve their credit. It’s more valuable in some situations than in others. But how does it work? Is it legal? Are there risks?
Piggybacking credit as an authorized user can occur in innocuous arrangements like parents helping their children build credit but can also happen when a for-profit credit repair company connects two individuals and takes a cut.
For-profit piggybacking is the process of renting your excellent credit to a stranger in exchange for payment. You can use a profit-seeking company as an intermediary, called a tradeline company.