No Piggyback Credit Ride

Adding a spouse or child as an authorized user to your credit card accounts, called "piggybacking" will cease to be a way to raise their score when the three top CRAs - Experian, Trans-Union and Equifax - switch to a new formula for determining credit scores next year. The new system will not regard their credit history as an authorized user on other people's accounts, only accounts in their own name and those jointly held will be counted towards their FICO score.

If you're a consumer who has counted on the beneficial effects of "piggybacking" on your credit score and haven't much credit in your own name, you will see a difference in your credit score next year. But, you can still take advantage of the piggybacking boost. Because you have until spring before the new FICO formula takes effect, it is still possible to use your current credit score to open new accounts in your own name and establish your own credit score.