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re: Would you ever sell your credit? Piggybacking Credit Cards

Posted on 6/9/15 at 12:14 pm to
Posted by foshizzle
Washington DC metro
Member since Mar 2008
40599 posts
Posted on 6/9/15 at 12:14 pm to
quote:

He's making about $400 a month just by letting other people have access to his credit.


As I understand it, that isn't quite how it works. They do not have access to his credit.

You add strangers as authorized users to your credit card - but you get the cards mailed to you and you never have to tell anyone the account number. The other guy's credit report now gets an additional entry for a valid credit card in good standing. It's even better if you've had the account for awhile. He has no access to your credit line and may be taking a small risk that you won't fall behind yourself although he could probably dispute it if that happened. But the net result is to help build his credit in exchange for a fee paid to you.

As you might well imagine, credit card companies do not like this practice at all and actively try to catch people who do this. I don't know what the consequences are, if any.
This post was edited on 6/9/15 at 2:04 pm
Posted by brbowhunter
baton rouge
Member since Apr 2013
851 posts
Posted on 6/10/15 at 11:07 pm to
It's been around for a while you just add them to a card and they reap the benefits from you being a responsible adult. It's a good gig to make some extra cash and help a few people.
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