But what kind of fraud can you commit with a SET code?
Not sure, other than misrepresent to SPG that you are a customer entitled to use that SET code.
FWIW, I doubt my particular SET code will set the world on fire with great rates, despite my Lifetime Plat status. And yet, I also don't know that I need to tempt fate with SPG and hand out my SET code to a complete stranger, and have SPG come back barking at me.