Selling tradelines – Things you need to know

If you are the one looking for the new income and have only less time to invest, then tradeline selling would be the best option. It is an act of adding some random people to your credit as an authorized user. It is the way of piggybacking off your credit to someone to increase their credit score. The amount you can earn from selling tradelines might vary, but the solid credit history could earn incredibly lucrative. If your card is much older, then sell tradelines to make money, and you will earn more. Because the older cards give a bigger boost to credit score.

  • Selling a tradeline is more popular as it does not take more than a couple of hours a month. Generally, people buy tradelines to increase their credit score to get better loan rates and for reducing the insurance costs.
  • You have to research for the right tradeline companies, and you need to spend time on finding reliable companies. This is because banks don’t like selling tradelines as many increasing their score and getting credit cards or loans. Before selling the tradelines ask for the essential documents of the company.
  • Once you sign up with the company, you need not spend effort on looking for the people for buying tradelines. The companies find the best buyers, do a proper background check, collect money and sent you full information about the user.
  • The tradelines company helps to choose the right credit card for selling and the amount they pay for you. To increase the potential income, try to get all your credit limit raised. You will get an email to add an authorized user to the account.
  • Follow the instructions properly and add AU to the credit. Also, they will send the card for the new AU, and it is not necessary to activate the card. After a few months, you will get another notification to remove the AU.
  • It is essential to make a record, you need to when the card is added and when removed. It is also possible to have more than one authorized user for the card. But there is also a limit. You can have more income for more users.
  • When your tradeline company suggest you remove AU before two months don’t do it. You have to question them before doing it and ask the reasons for it. Minimum AU should stay for 90 days.
  • One of the bigger concern for many people is whether it is legal. Many people are already doing it, the illegal issues lay on the tradeline company you are working with. Some tradeline company have restrictive rules to protect you. Thus, sell tradelines to make money that is an effective way of raising income.