@trc1963 wrote:I've been doing a lot of research on piggybacking credit.
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Has anyone done this? I'm seriously considering it.
Well, thank you very much for helping screw over a lot of mostly older married people who were AU's, and are now looking at losing all their credit history on cards that won't let them convert to joint!!!
Bull on the "trying to charge higher interest rates" crap! They want to know who really is a good credit risk. If you use someone else's history, you are essentially lying about your credit- worthiness when you apply. Sure, they'll charge you a higher rate if you have screwed up your history in the past, and why shouldn't they? They're not lending to the stranger whose history you buy, they are lending to you.
Why don't you take the time and effort to clean up your own messes, like other people here do, and earn what you get! This sort of thing makes me sick. No wonder lenders think we're all lying crooks. (And no, I certainly don't think that lenders are saints either.)
Message Edited by TheNewWorldMan on 11-17-2007 10:49 AM
Here's an idea: get to work improving your own credit rather than trying to piggyback and ride the coattails of others.