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Is this Legal?

While BoostMyScore does not offer legal advice or opinions to determine if tradelines are legal (we aren’t lawyers) , we have located extensive evidence to show it is not illegal. In an effort to better educate the FTC and the Colorado Attorney General, BoostMyScore has provided information about our business practices. We have also sought the opinions of several lawyers, none of whom found the tradeline piggybacking practice to violate the law.

You don’t have to take our word for it; just take a look at this article from ABC News.

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:

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.

What is the required role for Cardholders?
  • 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.
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