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Old 03-11-2018, 05:13 PM   #21
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I'm not ready to be so judgmental about this "piggybacking" thing.

Is it ethical for credit rating agencies to gather huge amounts of personal data about me? Is it ethical that, when they get hacked, I have to spend my time and money freezing my credit? Is it ethical that any fly-by-night business can declare to the credit rating and collection agencies that I'm in debt to them? Is it ethical that they accept these business's statements without proof, forcing me again to spend my own time and money fighting to clear my name?

Making a little money from one's own good credit rating by gaming THEIR system seems fair to me.
+1 -- Totally Agree!.... The Credit Agency thing is a Bigger Scam than we realize!
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Old 03-11-2018, 05:44 PM   #22
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Originally Posted by CaptTom View Post
I'm not ready to be so judgmental about this "piggybacking" thing.

Is it ethical for credit rating agencies to gather huge amounts of personal data about me? Is it ethical that, when they get hacked, I have to spend my time and money freezing my credit? Is it ethical that any fly-by-night business can declare to the credit rating and collection agencies that I'm in debt to them? Is it ethical that they accept these business's statements without proof, forcing me again to spend my own time and money fighting to clear my name?

Making a little money from one's own good credit rating by gaming THEIR system seems fair to me.
When you state it like this, it seems like a great idea.
I still would be concerned there is a trick somewhere, that would put me on the hook for mister bad credit fellow to spend my money.

I did find where the Gov't agency (FTC ?) disallowed it, but put it back pretty quickly since it affected lots of legitimate secondary users.

The FTC does say it's legal.

While tempting, the rewards don't seem too high. The reported $10,000 is probably a sales pitch.
Thing I read said: "What’s in it for people with good credit? They are paid $100 to $150 for every account they authorize as primary accounts to another user."

ftc adding seasoned tradelines to improve credit score

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Scams I haven't figured out yet
Old 03-11-2018, 06:47 PM   #23
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Scams I haven't figured out yet

More support for my opinion that credit scoring is a scam in general. Just a sleazy way for the credit bureaus to get income from the piles of data sitting in their files. Not to say that credit history (e.g. Payment record) is not legit, but any attempt to use a formula to "score" the history is corrupted by all these workarounds that inflate credit scores.
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Old 03-11-2018, 06:57 PM   #24
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There is an entire thread on Mr. Mm where people are doing this and making $. One of the long time forum members (arebelspy) does this and tells people how to do it despite being retired and owning a ton of rental properties. No one has ever reported having anything bad happen. It is not for me as I have no interest in spending my time in this way.
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Old 03-11-2018, 07:01 PM   #25
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I’m not interested in giving someone else a fast track to better credit. Why can’t they earn it the old fashioned way?
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Old 03-11-2018, 07:21 PM   #26
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2. Dubya dubya dubya dot get freedom checks dot com. If you watch the video, you find out that "freedom checks" are just distributions from oil and gas partnerships. Fine, but they make it sound like free money. Why are they wanting me to buy oil and gas partnerships, and what's in it for them?

Answers welcome. There are probably others.
Anyone happen to understand this one?

To clarify further, I'm in no danger of getting sucked into either of these. I just want to understand things.

As an aside @Teacher Terry, I'm familiar with the MMM thread and there are several reports of negative experiences with piggybacking. Recently there have been a number of people who have had their Discover cards closed.
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Old 03-11-2018, 07:39 PM   #27
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SC: thanks for letting me know and that is interesting. I have not read that thread in awhile.
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Old 03-12-2018, 12:24 AM   #28
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Just my view on the Oil & Gas:
With the oil and gas partnerships, I figure if they had any gushers, they would not sell those.

I drove by some oil pumps in IN slowly pumping, they looked pretty sad (low output) hardly moving, maybe stopped.

I would bet the only partnerships for sale are the money losing ones, they want to sell off at an inflated price to some sucker, or the really risky endeavors to drill for new oil where all the regular oil investors are refusing to invest.
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