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Is this Ethical?

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.

Bill Airy

About the Author:

Bill Airy is the CEO and Founder of BoostMyScore. For over 12 years he has helped American consumers get a second chance at a better financial life by helping them to improve their credit score. He regularly publishes helpful content on this Blog to educate others about Credit Scores and best practices when trying to improve them.

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Related Frequently Asked Questions:

How do you qualify someone to become a Cardholder?
  • 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.
What are the potential risks to Cardholders?

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.com 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.com certainly is not.

How Do I Get Started?

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!

Still have questions? Schedule an appointment to speak with us.

Got a Question with no answer? Speak to one of our specialists instead

BoostMyScore Team