- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
re: Would you ever sell your credit? Piggybacking Credit Cards
Posted on 6/9/15 at 12:14 pm to StringedInstruments
Posted on 6/9/15 at 12:14 pm to StringedInstruments
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 on 6/10/15 at 11:07 pm to foshizzle
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.
Popular
Back to top
Follow TigerDroppings for LSU Football News