|
|
| *Loan,banking and credit>>>credit score |
What are the companies that pay u to let others be added as users on ur credit, so it improves their score? |
there are companies who pay u if u add them as authorized users, what are their names? As others mentioned, Instant Credit Builders is getting the most PR, but I'd be wary - whether you're looking to add users to your account to make some money or use the service to try and build your own credit. Here's the article - http://biz.yahoo.com/ap/070603/cash_for_... In here you'll see that a FICO VP said they're doing away with this "credit piggybacking" service beginning in September, due to growing abuse. Quote from the article... "Ginny Ferguson, a mortgage broker in Pleasanton, Calif., and a credit expert for the National Association of Mortgage Brokers, considers the practice mortgage fraud, and the trade organization is about to release a policy statement against it. 'These companies are encouraging consumers to commit fraud. On a standard home loan, there's a clause that says the consumer is not omitting pertinent facts that could impact his or her ability to repay the loan,' Ferguson said." I don't know how far lenders or organizations could take this, but there's definite risk on both sides of this equation. What happens if the person you're "renting credit" from suddenly has unexpected financial problems and can't pay their bills? Uh-oh - you'll be renting their sudden "bad credit." Of course, they have incentive not to have that happen, but stranger things have occurred. Then you have the fraud risk too. If you're looking to lend your credit, I'd be worried about risks of someone getting your card numbers or identity theft. These companies say that won't happen, but their days are also numbered, as the article mentions. I personally wouldn't put all my faith in a fly-by-night company that likely won't be around in a few months. I'd advise against it, but wish you good luck. Source(s): http://biz.yahoo.com/ap/070603/cash_for_... http://instantcreditbuilders.com/index.h... http://instantcreditbuilders.com/index.h... The one that was listed in the article yesterday on Yahoo is www.instantcreditbuilders.com. They pay $100.00 to $150.00 per card depending on the age and credit limit of the card. Be very careful, this is being looked at by the FTC as we speak and will soon be illegal. Finance Manager for over 7-years. |
| Tags |
| credit counseling credit debt credit line credit repair credit report credit score credit card online bad credit loan bank of american bank of china |
SiteMap--Copyright/IP Policy--Contact Webmaster--Resource of HR For personal non-commercial use only. |