Author Topic: adding authorized credit card users for extra monthly income.  (Read 2950 times)

grizz

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adding authorized credit card users for extra monthly income.
« on: February 10, 2016, 01:44:51 PM »
I imagine this has been covered on this forum before, but the search feature was not yielding any results, even after several different attempts.

Has anyone used sites like shareyourcredit dot com or other such companies to lend your credit score for cash? Seems too good to be true.

If this has been covered in another thread, please direct me there. My apologies.

Thanks!

chucklesmcgee

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Re: adding authorized credit card users for extra monthly income.
« Reply #1 on: February 10, 2016, 01:51:21 PM »
That sounds like a terrible scam and fraud.

Catbert

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Re: adding authorized credit card users for extra monthly income.
« Reply #2 on: February 10, 2016, 01:56:15 PM »
That sounds like a terrible scam and fraud.

Yep, scam and fraud.  Scary to put your credit on the line for people that the bank won't give credit to.

katsiki

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Re: adding authorized credit card users for extra monthly income.
« Reply #3 on: February 10, 2016, 02:35:31 PM »
I saw this mentioned in one of the make side money threads.  Not sure it is a good idea however as others have pointed out.

shotgunwilly

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Re: adding authorized credit card users for extra monthly income.
« Reply #4 on: February 10, 2016, 02:39:46 PM »
That sounds like a terrible scam and fraud.

Yep, scam and fraud.  Scary to put your credit on the line for people that the bank won't give credit to.

The idea is for them to pay you and you add them as an authorized user so that their credit score gets a boost, but they (the people getting the boost) never have access to your credit card, the credit card #, or your information. They're not actually using your lines of credit.   

Still seems to be a risk to me, and if found out by the banks your lines would probably be closed.

Edit: Shareyourcredit has an A+ rating with the BBB, and scamadviser.com states it seems to be safe to use.  But again, still risky IMO.
« Last Edit: February 10, 2016, 02:45:16 PM by shotgunwilly »

grizz

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Re: adding authorized credit card users for extra monthly income.
« Reply #5 on: February 10, 2016, 02:46:26 PM »
I saw this mentioned in one of the make side money threads.  Not sure it is a good idea however as others have pointed out.

Yeah, that's how I found out about it.


JLee

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Re: adding authorized credit card users for extra monthly income.
« Reply #6 on: February 10, 2016, 03:15:17 PM »
That sounds like a terrible scam and fraud.

Yep, scam and fraud.  Scary to put your credit on the line for people that the bank won't give credit to.

The idea is for them to pay you and you add them as an authorized user so that their credit score gets a boost, but they (the people getting the boost) never have access to your credit card, the credit card #, or your information. They're not actually using your lines of credit.   

Still seems to be a risk to me, and if found out by the banks your lines would probably be closed.

Edit: Shareyourcredit has an A+ rating with the BBB, and scamadviser.com states it seems to be safe to use.  But again, still risky IMO.

The last authorized signer card I obtained didn't even ask for a social security number...how are they updating credit scores?

I'm a red panda

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Re: adding authorized credit card users for extra monthly income.
« Reply #7 on: February 11, 2016, 06:49:24 AM »
The last authorized signer card I obtained didn't even ask for a social security number...how are they updating credit scores?

Maybe it has to be one that does? I was really surprised the american express card I just got needed my husband's social for him to be a user. 

But this idea seems like fraud, or if legal, questionably ethical. There are some things I won't do for money.