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I think this is really an interesting idea to rent your credit score to those who in need of good credit score.

When I read the articles about renting credit score, I think I should write something about it for my readers. However, I am not encouraging you guys to rent your credit score. It seems unethical for me and you should also consider the risk of losing your personal information to others.

These days, having a good credit score means everything. It will make a lot of things easier for you if your credit history is clean, including renting out an apartment. The credit score is extremely important for those who want to buy a house. But in fact, lots of people might have insufficient credit score when they file an application. How could they do? There is a fast-growing business on the Internet: companies that claim to boost credit scores by transplanting the credit DNA of people with excellent payment histories into the credit files of people with sub-par histories. Most companies claim that they can increase the credit score by about 20 to 250 points, or more, by adding those with low credit score as authorized users onto the credit card accounts of people with excellent FICO scores.

In this way, the positive payment information of those with excellent credit score will flow into those with low credit score. Actually, our parents are always adding their sons or daughters as authorized users into their accounts. Obviously, it’s legal to add someone as your authorized users. And that’s why this kind of business is boosting on the Internet. Someone can rent their credit score for about $1,500 to $2,000 for 180 days or more. Some companies claim that they can increase their clients’ credit score by 150 to 250 points for just months with a price of $750! For those who want to boost their credit scores, they don’t have physical credit cards. So they can’t use the credit account. However, they may see the new account appear on their credit report which is the cause of the increase of credit score.

How much can you get paid for renting your credit scores? The amount you can get varies. It depends on the age of the credit card and the credit limit. There used to be a website named rentyourcreditcards.com is no longer. However, it’s no longer available now, in part I think due to the questionnaire from credit card companies and credit report agencies.

Anyway, I think this is an interesting idea to rent your credit score to others and that why some companies can make money from it. This post is just an introduction, and I’m not encouraging you to do this business. Again, it doesn’t seem a good idea to me. But I think you can learn something from it.