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Forum
-> Household Management
-> Finances
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amother
Fuchsia
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 Tue, Jun 30 2015, 4:30 am
I don't want to get into a debate whether this is ethical or not because my brain can't deal with that right now.
Right now I just want to hear practical opinions and advice.
we live in Israel but we are both US citizens.
DH has a friend in the US that offered to get him on a couple of credit card plans, he will then spend his own money using the credit card in my DH's name by thus accumulating lots of points he will then buy the points off of him pay him some. He claims the point are good for him because he needs to fly frequently.
He will then cancel all the cards.
I don't know the details but somehow this won't effect our credit
This friend told my DH that he will get commission for anybody he manages to convince to do the above too
In addition This friend mentioned he needed to get money into a bank account in Israel and it would be expensive for him to do it straight from his account in america. My DH said that he does not mind being the go between.
so this friend deposited the money into DH US bank account and DH pulled it out in israel and deposited this into the guys israeli account.
it was supposed to be a one time favor.
But now the friend asked for it again and dh said ok.
DH claims that it was coming from the friends US account.
I feel EXTREMELY uneasy about this. Personally I am not a person of fast deals. I am super straight and a hard worker. I was raised in a very no nonsense environment when it came to earning money.
DH claims that this is a friend from way way back and they have been together through many yeshivos. He claims to trust him more than a brother.
My personal feeling from just hearing a couple of convos between dh and him. and reading some emails that he wrote to DH (with permission) is that he a guy with a very witty tongue.
Is this really a crazy situation? Do people really do such stuff? Am I just being overly nervous? what should I do?
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amother
Purple
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Tue, Jun 30 2015, 4:49 am
| amother wrote: | I don't want to get into a debate whether this is ethical or not because my brain can't deal with that right now.
Right now I just want to hear practical opinions and advice.
we live in Israel but we are both US citizens.
DH has a friend in the US that offered to get him on a couple of credit card plans, he will then spend his own money using the credit card in my DH's name by thus accumulating lots of points he will then buy the points off of him pay him some. He claims the point are good for him because he needs to fly frequently.
He will then cancel all the cards.
I don't know the details but somehow this won't effect our credit
This friend told my DH that he will get commission for anybody he manages to convince to do the above too
In addition This friend mentioned he needed to get money into a bank account in Israel and it would be expensive for him to do it straight from his account in america. My DH said that he does not mind being the go between.
so this friend deposited the money into DH US bank account and DH pulled it out in israel and deposited this into the guys israeli account.
it was supposed to be a one time favor.
But now the friend asked for it again and dh said ok.
DH claims that it was coming from the friends US account.
I feel EXTREMELY uneasy about this. Personally I am not a person of fast deals. I am super straight and a hard worker. I was raised in a very no nonsense environment when it came to earning money.
DH claims that this is a friend from way way back and they have been together through many yeshivos. He claims to trust him more than a brother.
My personal feeling from just hearing a couple of convos between dh and him. and reading some emails that he wrote to DH (with permission) is that he a guy with a very witty tongue.
Is this really a crazy situation? Do people really do such stuff? Am I just being overly nervous? what should I do? |
Regarding the transferring setup - Is your husband pulling it out of his American or Israeli bank account? If it is his Israeli account, I can see how it makes sense IF you need money in your US account for purchases in USD and Israeli accounts for purchases in NIS. I have a similar setup, on a very small scale, with my parents when they visit. You need to make sure you are not losing money on exchange rates/bank fees.
I would not put anything in my name that is for someone else to use. That is just asking for problems.
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amother
Fuchsia
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Tue, Jun 30 2015, 4:51 am
the friend puts it into DH US account
My husband pulls it out in Israel
Tranfers to NIS
deposits in Friends Israeli account
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amother
Purple
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Tue, Jun 30 2015, 5:07 am
| amother wrote: | the friend puts it into DH US account
My husband pulls it out in Israel
Tranfers to NIS
deposits in Friends Israeli account |
If your husband subtracts the withdrawal fee...then to me it sounds like nothing more than a favour.
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someoneelse
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Tue, Jun 30 2015, 5:08 am
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I've seen ads for the credit card thing and I wouldn't do it even through someone I know personally cuz there is too much at risk that could go wrong. If the same guy is asking for a favor that has to do with sums of money I certainly would be wary.
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Karnash
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Tue, Jun 30 2015, 6:27 am
the friend puts it into DH US account
My husband pulls it out in Israel
Tranfers to NIS
deposits in Friends Israeli account
This is "money laundering". The money might all be above board - but you don't know - and if the sums deposited get larger, the movements in your account will be noticed and and investigated.
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5mom
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Tue, Jun 30 2015, 6:35 am
Do not touch this with a ten foot pole!
If your friend wants credit card miles, let him get his own cards and spend his own money. Then he'll have the miles. The only reason to use your name is so that he can ruin your credit. And once he has your info and social security numbers, he can go around opening accounts in your name all over the place. You may or may not be liable, but you will spend ages dealing with the fallout.
Also, it's no big deal to transfer $ from an American bank to an Israeli one. People do it all the time.
If this guy can't get his own credit cards or transfer $, it means he's already in financial trouble. This is not someone you want to deal with.
This really sounds like a scam.
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smilingmom
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Tue, Jun 30 2015, 6:43 am
If the friend is an American, why can't he get his own credit card?
Because he has terrible credit due to not paying his bills.
He will use your info, you get the points, but the he doesn't pay bills and your credit is also ruined.
Not only that, if credit card company cannot collect from you, whatever 'you' owe will be considered as income on your tax returns.
Stay away.
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amother
Fuchsia
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Tue, Jun 30 2015, 6:48 am
| smilingmom wrote: | If the friend is an American, why can't he get his own credit card?
Because he has terrible credit due to not paying his bills.
He will use your info, you get the points, but the he doesn't pay bills and your credit is also ruined.
Not only that, if credit card company cannot collect from you, whatever 'you' owe will be considered as income on your tax returns.
Stay away. |
according to the friend he has already done the same thing with his own credit cards and his siblings who live in israel too and he is trying to collect as many as he can
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grace413
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Tue, Jun 30 2015, 6:59 am
If your DH has already signed up for a credit card and given this "friend" the info, cancel the card immediately.
If he hasn't done yet it, make sure he doesn't do it.
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imasoftov
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Tue, Jun 30 2015, 7:02 am
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This is not merely fishy, it smells from a distance.
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5mom
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Tue, Jun 30 2015, 7:13 am
| amother wrote: | | according to the friend he has already done the same thing with his own credit cards and his siblings who live in israel too and he is trying to collect as many as he can |
Major red flag!!
Please stay away. I know I'm repeating myself, but stay away. No one should ever open an account in your name. No matter what he tells you, you will be liable for the charges incurred.
If he's that desperate for airline miles, he can find some other way to get them. Messing up your credit should not be an option.
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amother
Fuchsia
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Tue, Jun 30 2015, 7:18 am
DH keeps on saying-
but I trust, but I trust him, But I trust him.
I have told him EVERYTHING people have posted above.
he says he realizes what it looks like on the outside but this is somebody he REALLY trusts.
He says he knows him inside out after years of warming the same bench, debating deep topics and learning seriously together
he brings me examples of my very very good friends and asks me if I would trust them.
GRRRRRRRRRRRRRRRRR.
what do you say to this?
DH is really a good man. I believe he truly trusts the guy. and STILL I think he should not.
I don't think anybody can really know a friend that well to know what he will become under the stresses of money in the real world.
what in the name of heaven should I do?
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nywife
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Tue, Jun 30 2015, 7:21 am
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There's no way that this won't effect your credit. If a card is opened in your (or your husbands) name it WILL effect you (& your husband), regardless who is spending the money. Stay away from this. If you really want miles open a credit card and use it on your own.
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amother
Fuchsia
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Tue, Jun 30 2015, 7:23 am
| amother wrote: | DH keeps on saying-
but I trust, but I trust him, But I trust him.
I have told him EVERYTHING people have posted above.
he says he realizes what it looks like on the outside but this is somebody he REALLY trusts.
He says he knows him inside out after years of warming the same bench, debating deep topics and learning seriously together
he brings me examples of my very very good friends and asks me if I would trust them.
he claims I have read to many frum novels
GRRRRRRRRRRRRRRRRR.
what do you say to this?
DH is really a good man. I believe he truly trusts the guy. and STILL I think he should not.
I don't think anybody can really know a friend that well to know what he will become under the stresses of money in the real world.
what in the name of heaven should I do? |
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relish
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Tue, Jun 30 2015, 7:30 am
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"Dh, I find it amazing how much you want to help out an old friend. I really wish you can, but I can not get over my discomfort about the situation. Please put my needs above his for now. We can revisit this at a later time if it comes up again"
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hila
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Tue, Jun 30 2015, 7:40 am
Even if you trust him - remember that if it sounds too good to be true- it is too good to be true.
You will come out badly from this- stay away. Even if it might be legal - I dont know- it sure stinks.
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relish
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Tue, Jun 30 2015, 7:43 am
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Op gets the whole stay away thing. She knew before she posted that something was not right. Switching the focus to helping her get her husband not to get involved would be more helpful at this point.
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amother
Fuchsia
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Tue, Jun 30 2015, 7:45 am
thank you relish
I have been uncomfy about this for a while.
when I posted I just wanted to confirm my feelings.
now that they are unanimously confirmed I need more guidance
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amother
Cyan
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Tue, Jun 30 2015, 7:49 am
There are ways to do this legally and illegally. There are honest and dishonest ways. If he is doing any personal business with your cards, I'd be very weary. The people who do it as a business, if they make purchases, they cancel them before billing. So in essence there are no payments.
Before doing anything, get everything in writing and signed by all parties involved.
Anon, we recently did this and were slightly burned.
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