Sometimes referred to as “credit piggybacking,” the authorized user credit-building strategy is a very common method where you build credit as an authorized user on someone else’s account. While this method has been around for quite some time, it has gained popularity in the past decade, especially with those who have low or no credit and want to build their credit fast. Today, we’re going to explore the ins and outs of the authorized user credit strategy to help you determine if it’s the right move for you in your quest to boost your credit. [caption id="attachment_3250" align="aligncenter" width="1053"] The…

If one of your financial goals this year is to reduce your overall credit utilization rate, then any additional credit payments you’re able to make can be a significant help. Of course, there are many other factors that impact the credit card you choose to pay off first. Some of the most important factors to consider include: Paying off the card that has the highest interest rate could save you money in the long run. Paying off the card with the highest utilization ratio could boost your credit score. Your individual account utilization is an important element used by the…