Making money off your credit cards is easy, but there is a risk associated with it.
The only known risk to our cardholders is the slight chance that the credit card company will do one of two things:
- Close the cardholder’s revolving account, or
- Leave it open, but no longer allow the cardholder to add any more authorized users to their account.
* Our risk assessment is based on our business model. Other risks may (and likely do) exist with other companies.
More on risks:
Some banks may have a distaste for this practice. That is, card holders earning money from their hard earned credit. Out of the hundreds of cardholders in our system today, we have only seen a card get shut down occur a couple of times. In addition, this was early on during research. We are constantly keeping up with the industry. We will coach you and make suggestions on how to handle your cards to minimize potential closures.
If you are worried about having your credit card closed, we suggest that you apply for a new credit card (or a few credit cards) when you sign up for our program. In case a closure occurs, you will still have a credit card (or credit cards) to use if needed. Likewise, you may end up using these new cards to make money.
The risks associated with this practice are no more and no less than the current risks associated with your current situation; that is, this practice adds no additional risk to you. However, any reasonably skeptical person would assume the authorized user will attempt or succeed in securing advances on your card.
First, the authorized user is just that, an authorized user. However, given the fact that the authorized user never receives a card, authorization is meaningless in terms of securing advances on your card. The user will never see the card, the card number, the security number, etc. All they see is the name of the bank, the balance, limit and age of the tradeline appearing on their credit report.
If you have any other concerns, contact us and we would be more than happy to discuss them with you.