How Does it Work?
We pay Card Holders—just like you—a fee for adding our clients as Authorized Users (AU) to their credit cards. The AU never has any access to spend money on your account – they don’t know who you are – and they are paying strictly for the benefit of seeing your credit card’s payment history appear in their credit report.
You see, when you add someone to your card as an Authorized User (AU), the credit card company essentially copies and pastes the history for your credit card into their credit report, and it looks like your card has been in their credit report since you first opened the account. The effect is an immediate boost to the AU’s credit score. Here is article from ABC News that talks a bit about it.
The Process
Cardholders can make anywhere from $25 to $300 for each person they add as an authorized user to their credit card, and each credit card has anywhere from 3 total available AU spots up to 10, meaning that on average they could make upwards of $1,000 per month, PER CARD, depending on the credit limit and payment history of the card they hold. The smallest amount made by a Cardholder in 2015 was $2,800, and the highest paid Cardholder in our program made $48,000 for the year. The more cards a Cardholder has in our program, the higher the limit, and the longer the payment history, the more money they can make. In some situations, we will consider paying a higher premium for cards that have exceptionally high limits and age. Please speak with us for more information on these types of accounts.
A Cardholder must have at least one credit card with a perfect payment history (no late payments).
The credit card(s) must be at least 6 months old.
The Cardholder must maintain regular activity on their account, and never have a balance of more than 10% of the available credit limit on their credit card(s).
A cardholder must be able to add someone to their card within 48 hours of email notification that they have a new client.
Every credit card account in our program must be used regularly, but must always maintain a balance of less than 10% of the available credit card limit. Just use them to buy a tank of gas every couple months and pay the balance in full as soon as the bill comes in the mail. Something needs to be owed on the account at least once per month.
If a balance is over 10%, it must be paid down before the credit card’s reporting date, which is listed on your credit report with TrueCredit.com, and is not necessarily the due date of your payment.
Allow a small balance to report each month to ensure that your credit card company reports the activity as expected. If the credit card history for your account is not reported for an Authorized User that has been added to your account, then you do not get paid for that addition until and if it does.
Once a client has paid us for the service, signed and returned the contract, and we have validated their information to be accurate and true, our system will automatically send an email to the Cardholder with instructions on how to securely view the new client’s personal data (SSN, DOB, and name) on a secure page on our web site. The Cardholder will then call their credit card Issuing Bank, and add the client(s) as authorized user(s) to their credit card(s) no more than 48 hours later than receipt, but before each individual credit card’s reporting date. Do NOT print the client’s sensitive information or copy it anywhere outside of the secure web site, as doing so can create an unnecessary security risk.
Immediately following the addition of the AU to the credit card account, please reply to our email to let us know that the addition is complete.
Within 7-10 business days, the Issuing Bank will mail a physical credit card directly to the credit card’s billing address with the name of the client (Authorized User) and the account number on the front of the card. The Cardholder must fax or email a copy of the credit card with the authorized user name displayed, making certain to remove the 16 digit account number and 4 digit expiration date prior to sending. Verification with each client that the history for your credit card has reported to their credit report is required before payment is made to the Cardholder.
The Operations Manager will inform the Cardholder when they can remove an authorized user from the credit card, and will then send over new clients to be added, and the whole process starts all over again.
Making money off your credit cards is extremely easy and it almost sounds too good to be true, but of course, as it is with anything of financial benefit, there is a risk. The only known risk to our Cardholders is the slight chance that the credit card company figures out that you, the Cardholder, are making money off of your credit card(s) and the credit card company may do one of two things: 1) close the credit card account, or 2) leave it open, but disallow the Cardholder to add any more authorized users to it.
Over the last several years, BoostMyScore.NET has become increasingly good at learning the trip hazards in the banks’ computer systems, and we are extremely good at avoiding them, which tends to keep our Cardholders’ credit card accounts free from repercussion. As an overall average, the first possibility only happens to about 15% of our credit cards, while the second situation happens to only about 5% of all of the credit cards in our program.
If a Cardholder is worried about the possibility of their credit card being closed by the bank, we suggest that they apply for a new credit card when they sign up for our program. If the card in our program is closed, the Cardholder will then have an alternate credit card to use if they need to, and could potentially begin selling the new card in our program, as well. Nonetheless, you must be comfortable with the risk of your card being closed by the bank.
The histories of credit card accounts that have been closed continue to be calculated into the credit score, even if the account is closed, prompting little to no effect on the Cardholders’ credit score/report. However, if the Cardholder is carrying revolving debt on other credit cards, and has an account closed, their “overall utilization ratio” will be impacted, which could lead to a lower credit score.
Either way, our current Cardholders unanimously agree that monthly cash flow is more valuable than simply having that one credit card. While replacing a credit card is easy, the cash you earn from BoostMyScore.NET certainly is not.
Considering the various ways banks and the credit card, credit scoring, and credit reporting industries have ensnared the American consumer in their web of control, it is hard to believe that using their system, and playing by their rules to place each of us in a more equitable financial position, is anything but ethical. Click the links below, and then decide for yourself.
1:Denver Business Journal – Lost Fees Will Hurt Banks
2:Denver Business Journal – Lost Fees Will Hurt Banks
3:USA Today – Anger at bank overdraft fees gets hotter, bigger and louder
According to lawyers familiar with the practice of piggybacking, as well as industry insiders, the act of paying someone to add another person to their existing credit card account is perfectly legal.
You don’t have to take our word for it; just take a look at the RESEARCH or this article from ABC News
If you are interested in becoming a Cardholder, please fill out the form and let us know what cards you own that you would be interested in selling. Our company owner or Operations Manager will contact you directly within 24 hours.
After filling out the above mentioned form, and if we are interested in the cards you have to offer us, we will then send you a contract and tax form W-9 to read through, sign, and return.
We will spend about 30-45 minutes on the phone educating you on how the system works, your responsibilities, and how you get paid.
Once you are comfortable and understand how the process works, we will add your credit card(s) to our list and start selling spots on it. It’s that simple!.
Contact Us Today!
Through a method known as “credit piggybacking,” TheCreditCoach adds you as an Authorized User (AU) to one or more high limit, low balance, seasoned credit cards, which drastically improves your credit score rapidly! While you do not receive the physical card or ability to use the credit line, you will receive the amazing benefit of having that particular credit card “copied and pasted” on to your credit report. This extreme increase in the limit to balance (utilization) ratio and overall average age of the revolving accounts on your credit report gives you the biggest possible FICO® score boost in 60 days or less, guaranteed! To learn more about how your credit works, and how piggybacking can boost your credit score, click the button below.
TheCreditCoach has commissioned extensive research into the legality of “piggybacking”. Multiple law firms, the Federal Reserve Bank, the Federal Trade Commission, and various Attorneys General have all looked into the practice in fine detail, and each have determined that the act of paying someone to add another person to their existing credit card account as an Authorized User is perfectly legal. While the banks and credit reporting agencies may dislike the practice, credit piggybacking is actually protected by Regulation B of the Equal Credit Opportunity Act. To learn more about these legal opinions, click the button below.