Is Credit Star Funding a Scam? It’s a Loan MLM To Avoid!
Welcome to my Credit Star Funding review!
Another MLM company that we’re about to review is as suspicious as it gets.
There’s no one in their right mind who would ever believe this kind of program.
This is Credit Star Funding.
First of all, I must Congratulate you for taking your time to do your own research before buying into any "seemingly good" product.
That's the way to avoid scams and find the legitimate way to make money online!
Let me be completely transparent with you, I'm not associated with Credit Star Funding in any form.
So, rest assured that I'm not here to pitch or sell anything to you.
Instead, I'm here to reveal why you should avoid this loan MLM company
Credit Star Funding Review Summary
Product Name: Credit Star Funding
Founder: Riccardo Ferrari
Product Type: Loan and Investment MLM
Price: $199 commitment fee + other fees
Best For: NO ONE!
Summary: Credit Star Funding is a loan and investment MLM company that should be avoided at all costs. The owner's reputation for starting schemes like these precedes him, and this program has all the makings of a pyramid scheme.
Rating: 1/100
Recommended: No!
More...
What is Credit Star Funding?
Credit Star Funding is a MLM or multi-level marketing company owned and operated by CEO Riccardo Ferrari. The company’s based in California, USA.
They’re a unique MLM company because they provide loans and fix credit scores for their members, all thanks to Ferrari’s “patented technology”.
Is Credit Star Funding a Scam - Landing Page
Their business model is very simple. The company pitches a promise to get their members funded. Once members are funded, Credit Star Funding members are expected to use their loan into what’s called a “non-collateral funding and Artificial Intelligence income system”.
In other words, the loans are used to fund other schemes, but we’ll get to that later.
What matters here is that Credit Star Funding hides the true nature of their loans it assists their members with obtaining.
This is kind of obtaining loans via deception, which is very illegal.
A little bit of background on Ferrari
Given Ferrari’s past, it’s no surprise that the business model is somewhat shady.
Prior to Credit Star Funding, Ferrari promoted the BitClub Network ponzi scheme, which we reviewed.
Ferrari boasted of making $150,000 a week by recruiting people into the scheme, but Richard Brooke called him out in 2017 by saying he’s an example of “outright lying, stupid illegal claims and cheeseball videos about how cool it is to be rich”.
In early 2019, his BitClub Network scheme was already teetering, which then prompted him to launch Credit Star Funding.
To sum it up, Ferrari helps people obtains loans up to $250,000 through deception, and then instructs recipients of his loans to invest that money into more fraudulent schemes.
Credit Star Funding Product Line
Their premise is simple. Credit Star Funding provides you with money to fund your own business. It promises that their loans are going to boost your FICO scores.
Is Credit Star Funding a Scam - Credit Funding
In reality, the money they’re loans are sourced from comes from other members, even though Ferrari states that the system is connected to 6000 banks and that he’s able to file loan applications on his behalf.
You’ll be able to get a $50k loan from the system, even though the bank lets you loan $10k.
Long story short, he makes a lot of claims on his sales videos and they’re nowhere near being true to their word.
Is Credit Star Funding a Scam - Credit Repair
There’s no product or service being offered here. You’re just buying your way into a loan of sorts to help you fund other businesses.
I'm Jerry!
I Created My Own 4-Figure Monthly Passive Income at just 21 Years Old!
Does The Product Work?
Their business model does not hold any water at all. It doesn’t make sense. You’re better off finding loans from reputable financial institutions and not from someone who’s known for ripping people off.
How To Make Credit Star Funding?
You make money from Credit Star Funding by recruiting people into the program and having them apply for a loan.
There’s no other means for you to make money from their program.
How To Get Started with Credit Star Funding?
You’ll be required to pay a $199 commitment fee before Credit Star Funding can get a loan for you. Then there’s a loan generation fee of 22%.
This is what’s commonly known as an origination fee, or that fee charged to someone who’s processing a new loan. The average fee is .5% to 1% of the amount. They’re asking 22% from you. Just think of the discrepancy.
Credit Star Funding Compensation Plan
Credit Star Funding’s compensation plan doesn’t follow like a MLM program, except for its unilevel structure for recruiting.
You get 2.5% of every loan generated by your personal recruit and 1% from the people your recruits recruit.
Then there are investment platforms that Credit Star Funding is “encouraging” you to invest on:
Customer Acquisition Joint Venture – promises you as much as $6000 per month
Bitcoin Accumulation Platform – you get Bitcoins based on how much money you put into the business or how many servers you get
Artificial Intelligence Crypto-currency Trader – promises a 25-40% return by putting your money into a AI system and have it trade cryptocurrency
A.I. Crypto/ Stock/ Forex Trader – promises you can make 30-60% per month ROI on Forex and Stock Trading
The question here is this: who exactly are these ventures? There’s no legal entity that we know of that provides these kinds of services.
Credit Star Funding Ugly Truths Revealed!
#1 Unrealistic returns
Credit Star Funding promises that you can get up to $250,000 in loans and promises that you can generate 20 to 60% ROI on these loans just by having new people sign up for the program.
If that was the case, people would’ve been rich just by using this program.
#2 Questionable Owner Reputation
Ferrari has been known to be involved in deceitful activities in the past, and one of the people who called him out for it was Richard Brooke. Brooke is a well-known speaker and network marketing mentor.
#3 Clearly A Pyramid Scheme
No products? Check.
No service? Check.
Too much recruitment? Check.
Is Credit Star Funding a Scam - Pyramid Scheme Infographic
These are red flags created by the FTC or Federal Trade Commission to help people identify if they’re getting into possible pyramid or Ponzi schemes.
Their business model is proof that there’s no other source of funding for these loans other than the new members coming in.
#4 None Of This Is Legal
Ponzi schemes are illegal in any country and any program that’s involved in doing these schemes are either shut down or on their way to being shut down.
Their loans are sourced deceptively, and Credit Star Funding or Ferrari are not registered with the SEC to provide these kinds of loans and investments.
What this means is that everyone involved might be committing security fraud through the promotion of unregistered securities.
If you recruit people into the program and they sign up for it, you can also be liable and might go to jail for it if the program gets caught.
What I Like About Credit Star Funding?
There’s nothing about the program that I like. It’s clearly doing illegal things and you might get in trouble if you get other people involved.
Is Credit Star Funding a Scam?
Yes, Credit Star Funding might be a possible Pyramid scheme because of the red flags that were raised during this review.
There’s no product or service being offered that could get you your money back other than having people sign up for the program. Period.
The loans in question are sourced through deceptive means and you could be in trouble with the law if you get caught.
Let’s not forget the fact that the owner’s reputation with deceptive schemes is right on par with this program.
Avoid this program at all costs!
How I Make a Living Online?
I'm not a fan of MLM, not because it's illegal or not profitable, but because of all the restrictions and the expensive costs involved.
Instead, Affiliate Marketing is my top recommended business model for anyone to make money online.
The reason is simple...
- You don't have to recruit anyone to make money
- You have the freedom to promote any products you want and not being restricted to only promote the products from one MLM company
- It's Free to get started
In fact, with affiliate marketing...
I've personally created a 4-Figure Monthly Passive Income Stream and become financially independent at just 21 years old without any College degree or working experience!
Through my own hard work, I went from a broke restaurant waiter to living my dream laptop lifestyle in less than a year's time...
If you want to discover the secrets of how I did it at such a young age, click here!
