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Is there a way to make money off of my excellent credit score?

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Society1
Regular Contributor

Is there a way to make money off of my excellent credit score?

hello community. I have paid off on time personal loans and furniture card. And I'm also doing a secure Loan at the moment which is on time. I'm a AU on three credit cards which balance is at 20% each and other at 0. My score is 730.. I just want to capitalize and see is there anyway to make passive income  off of my credit score 

Message 1 of 21
20 REPLIES 20
JoeRockhead
Senior Contributor

Re: Is there a way to make money off of my excellent credit score?

Other than using an excellent score to gain access to better cards and rewards, or reward structures, save money by getting better interest rates and offers, or using your credit, or leveraging your buying power to create wealth through property investments and things of that nature, no.  

Message 2 of 21
GreatLife
New Contributor

Re: Is there a way to make money off of my excellent credit score?

Where'd you source that score?

Is it Fico or Vantage, and which version?

Are the AU's under 1 account owner or across mutiple people? 

Are the AU's store or bank cards?

 

Forum members can advise if any of this is incorrect:

I think 730 is more likely within the Good category. If all AU's are bank cards thru the same person, then your score might increase with 3 cards at $0 balance and only 1 card at or under 8.9% of the credit limit. 

 

An excellent score can help you SAVE money but the only way I can think to actually earn money is by using it for purchasing a substantial asset at an optimal interest rate and then sell to someone else for more than you all-in paid for it. Something like a house, car or boat.. or finance an investment property at a low interest rate to become a landlord with rents higher than the mortgage payments.

Message 3 of 21
SouthJamaica
Mega Contributor

Re: Is there a way to make money off of my excellent credit score?


@Society1 wrote:

hello community. I have paid off on time personal loans and furniture card. And I'm also doing a secure Loan at the moment which is on time. I'm a AU on three credit cards which balance is at 20% each and other at 0. My score is 730.. I just want to capitalize and see is there anyway to make passive income  off of my credit score 


No, there isn't.

 

 


Total revolving limits 741200 (620700 reporting) FICO 8: EQ 701 TU 704 EX 685

Message 4 of 21
Jeffster1
Valued Contributor

Re: Is there a way to make money off of my excellent credit score?


@Society1 wrote:

hello community. I have paid off on time personal loans and furniture card. And I'm also doing a secure Loan at the moment which is on time. I'm a AU on three credit cards which balance is at 20% each and other at 0. My score is 730.. I just want to capitalize and see is there anyway to make passive income  off of my credit score 


Sounds shady.

FICO 8 (1/21/24) EX 805 EQ 720 TU 844
FICO 9 (2/17/24) EX 821 EQ 778 TU 850
CH 13 DC 1/5/21 -- I practice AZEO - NEVER above 1% utilization across all cards.

Current lineup as of 9/23
American Express Gold | American Express Blue Cash Everyday 6K | American Express Blue Cash Preferred 5K I American Express Marriott Bonvoy Bevy 5K I American Express Gold Delta Skymiles 6K I American Express Hilton Honors Surpass 1K | Bank of America Customized Cash Rewards Visa 15K | Kinecta MyPerks Rewards MC 35K | TD Bank Double Up Visa 4K | USBank Platinum Visa 5K | BMO Harris Cash Back MasterCard 12K | Capital One SavorOne MC 3K | Capital One Walmart MC 2K | NFCU Amex 15K | NFCU CashRewards Visa 15K I Citi Best Buy Visa 10K I Macy’s Amex 1.5K I Bread Financial American Express 8K l AAA Daily Advantage Visa Signature 6K I Wells Fargo BILT World Elite MC 30K I BCU Cash Rewards Visa 8K I Chevron Techron Advantage Visa 2.5K I JCPenney Mastercard $6K I UCLA Wescom CU Rewards Visa 7K I Affinity Pure Rewards Visa 5K
Message 5 of 21
ForwardLooking
Regular Contributor

Re: Is there a way to make money off of my excellent credit score?


@Society1 wrote:

hello community. I have paid off on time personal loans and furniture card. And I'm also doing a secure Loan at the moment which is on time. I'm a AU on three credit cards which balance is at 20% each and other at 0. My score is 730.. I just want to capitalize and see is there anyway to make passive income  off of my credit score 


Not without a lot of risk.  Don't quit your dayjob and keep up your credit -- It will save you more than it will earn you in the long run.

Message 6 of 21
coldfusion
Community Leader
Mega Contributor

Re: Is there a way to make money off of my excellent credit score?


@Jeffster1 wrote:

@Society1 wrote:

hello community. I have paid off on time personal loans and furniture card. And I'm also doing a secure Loan at the moment which is on time. I'm a AU on three credit cards which balance is at 20% each and other at 0. My score is 730.. I just want to capitalize and see is there anyway to make passive income  off of my credit score 


Sounds shady.


I suspect they have something in mind.  If I'm right yes it's shady, something we don't talk about here, and has unpleasant consequences if caught.

(2/2024)
FICO 8 (EX) 846 (TU) 850 (EQ) 850
FICO 9 (EX) 850 (TU) 850 (EQ) 850

$1M+ club

Artist formerly known as the_old_curmudgeon who was formerly known as coldfusion
Message 7 of 21
markbeiser
Established Contributor

Re: Is there a way to make money off of my excellent credit score?

730 isn't really "excellent" credit, at least not enough to get the kind of limits with the kind of cards to start gambling on a thing that is likely to get shut down quickly and bite you in the wallet.

If the particular thing worked as well as the people charging money to teach you how to do worked as well as they claim, they wouldn't be telling anyone about it, because they would be getting rich off of it, instead of selling programs on how to do it.

Back to gardening until Late February 2025.

Current FICO8:
Message 8 of 21
Jeffster1
Valued Contributor

Re: Is there a way to make money off of my excellent credit score?


@coldfusion wrote:

@Jeffster1 wrote:

@Society1 wrote:

hello community. I have paid off on time personal loans and furniture card. And I'm also doing a secure Loan at the moment which is on time. I'm a AU on three credit cards which balance is at 20% each and other at 0. My score is 730.. I just want to capitalize and see is there anyway to make passive income  off of my credit score 


Sounds shady.


I suspect they have something in mind.  If I'm right yes it's shady, something we don't talk about here, and has unpleasant consequences if caught.


+1 

My thoughts exactly. 

FICO 8 (1/21/24) EX 805 EQ 720 TU 844
FICO 9 (2/17/24) EX 821 EQ 778 TU 850
CH 13 DC 1/5/21 -- I practice AZEO - NEVER above 1% utilization across all cards.

Current lineup as of 9/23
American Express Gold | American Express Blue Cash Everyday 6K | American Express Blue Cash Preferred 5K I American Express Marriott Bonvoy Bevy 5K I American Express Gold Delta Skymiles 6K I American Express Hilton Honors Surpass 1K | Bank of America Customized Cash Rewards Visa 15K | Kinecta MyPerks Rewards MC 35K | TD Bank Double Up Visa 4K | USBank Platinum Visa 5K | BMO Harris Cash Back MasterCard 12K | Capital One SavorOne MC 3K | Capital One Walmart MC 2K | NFCU Amex 15K | NFCU CashRewards Visa 15K I Citi Best Buy Visa 10K I Macy’s Amex 1.5K I Bread Financial American Express 8K l AAA Daily Advantage Visa Signature 6K I Wells Fargo BILT World Elite MC 30K I BCU Cash Rewards Visa 8K I Chevron Techron Advantage Visa 2.5K I JCPenney Mastercard $6K I UCLA Wescom CU Rewards Visa 7K I Affinity Pure Rewards Visa 5K
Message 9 of 21
FireMedic1
Community Leader
Mega Contributor

Re: Is there a way to make money off of my excellent credit score?

How about getting your own 3 cards. And build your file. Get some cash back for your purchases as the primary card holder. Theres your money. You dont get it right now. The primary does. Your just the AU. Its clear what you were asking about. Its a no no on here.

 


Message 10 of 21
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