One of the easiest ways to rebuild your credit profile is to become an authorized user on someone else’s credit card who has much better credit than yourself and preferably a long credit history to go along with it.
The most common term for this procedure is called “piggybacking,” where the authorized user piggybacks onto the primary account holder’s Visa, MasterCard, department store or gas card. The primary account holder has sole responsibility for repayment of the debt.
Conversely, the authorized user bears no responsibility for the debt whatsoever. The primary purpose of becoming an authorized user is to rebuild or even establish ones credit from the sharing of the primary account holder’s good credit history.
Allowing someone to piggyback your credit profile helps them to build credit without the risk of their bad credit history affecting yours in any way. You may order a separate credit card for the authorized user, but this is not necessary. The primary account holder’s credit history for the card will still show up on the users’ credit profile.
If you would like to help a friend or family member to establish or rebuild credit, all you have to do is call the credit card issuer and request to have them added to your account as an authorized user. It is completely up to you as to whether you decide to put the card in their hands or not.
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