Tradelines: Make $500 to $1,000 Plus Residual Income

Tradelines: Make $500 to $1,000 Plus Residual Income

Ever thought about getting a side hustle or an extra gig to add a few hundred dollars to your monthly income? Well, you’re not the only one. As a matter of fact, these days there are a wide variety of options to try. You could become an Uber driver, deliver for Door Dash, just to name a few. But if you’re like most people; those picking up extra work is – too much work! The great news for you today is that there is a much better way: selling tradelines.

Never Heard of Selling Tradelines for Extra Cash?

If this is the first time in your life hearing about selling tradelines, or if you’ve heard of it before, but never quite understood what it is and how it works, then today is your lucky day, because in the paragraphs that follow, you’ll discover the ins and outs of selling tradelines to bring in $500 to $1,000 plus per month. And the best part about it is that it doesn’t require any hard labor or hours of your precious time. In fact, if you have good credit, selling tradelines is perhaps the quickest and easiest way to make extra cash without doing any actual work. We’ll go in more detail in a minute, but before we do, that burning question of what exactly is a tradeline is probably rolling around in your mind.

What’s a Tradeline?

If you do a Google search, you’ll find dozens of complicated answers on what a tradeline is. But in simple terms, it’s what banks call a line of credit. Your credit card is a tradeline. Simple enough? Well, do you remember in the previous paragraph we noted that if you have good credit that selling tradelines could result in you receiving the extra money you want without having to pick up a side hustle or gig? Well, here’s your chance of a lifetime.

If you have what banks classify as a “seasoned” credit card account, which is simply a credit card account at least two years old with no late payments, whether you know it or not, you’re in high-demand. It is something the law has classified as legal, yet not many people actually know about it.

Here’s what we mean: for every credit card that you have, there is a list of authorized users. Of course you’re an authorized user of the card, but to make money, all you have to do is add someone as an authorized user and your unblemished payment history will be added to their credit.

It’s Safe

With all of the security issues, such as identity theft and hacking going on, the natural question is to wonder if this is actually safe. The short answer to this question is yes, it’s safe. But just to ensure that your mind is free or worry, we’ll explain how your identity, as well as your credit card is safe and secure.

No. 1: Let’s start with your credit card. When you allow someone to be an authorized user as a way to make money selling tradelines, the person won’t have access to your actual credit card. You see, reputable tradeline companies that you sign up under, are the go in between you and the person wanting to purchase a tradeline. The person looking to purchase a tradeline is normally doing so in an effort to boost their credit score to help them qualify for a home loan, new vehicle loan, personal loan, etc. But in any case, that person never knows your name, your account number, or any of that information.

Let’s say for example, you have a credit card that’s two years old with no late payments and you want to sell this tradeline to a tradeline company. The tradeline company will make you an offer. You accept the offer. Then the tradeline company will make this tradeline available for purchase to anyone looking to purchase a tradeline. Once the person purchases the tradeline, all you have to do is either add them online or call your credit card company to add the person to your credit card account as an authorized user.

However, this person does not receive a card, nor have any access to your account information. You’re still in control of that. So basically, it’s a win-win for everyone involved. You make quick and easy money by selling your tradeline. The person looking to purchase a tradeline receives a positive payment history on their credit report to help them improve their credit in order to get the loan for whatever it is they’re seeking.

No. 2: It is important to note that the way tradeline companies make money is by limiting the length of time the authorized user has per tradeline. This is also good for you too. For example: a tradeline can be purchased for $600 for a term of two months. What this means is that after the two months are up, you can remove the person as an authorized user. If the person wants to go longer, he or she will typically have to renew or make a new purchase of the tradeline. Once the time allotted for the tradeline has expired, your tradeline company will send you an email letting you know to remove the person as an authorized user on your tradeline.

But the great thing about utilizing tradelines to make money is that the more seasoned tradelines you have and the more authorized users you have, the more money you can make. But be aware that most credit card companies have a limit on how many authorized users you can have per credit card. Every credit card company or bank has their own rules. And now that you have an overview of how to make money selling tradelines, feel free to give it a try, or learn more about your options as it relates to you making money selling tradelines.

Best Way to Build Credit Fast

Best Way to Build Credit Fast

If you plan to purchase a home, vehicle, furniture, or even rent an apartment, there’s one thing you’ll need in order to be approved: good credit. However, according to a recent study of 220 million people conducted by VantageScore, more than 68 million people have bad or poor credit. The great news for you today is that if you’re looking for the best way to build credit fast, there is a tested and proven way to do it: authorized user tradelines.

What Are Authorized User Tradelines?

An authorized user tradeline is the process of adding revolving accounts – in good standing – to your credit report in order to increase your credit scores. All of your credit cards are tradelines, your car loan is a tradeline and so is your mortgage. This method has proven to be the best way to build your credit fast. As a matter of fact, according to the Federal Reserve, 30 percent of people with a scorable credit score have at least one authorized user account on their credit report.

And in case you didn’t know it, a credit score of:

  • 580 to 669 is considered fair credit
  • 670 to 739 is good credit
  • 740 to 799 is very good
  • 800 to 850 is excellent

So now that you have the numbers in terms of what’s good credit and bad credit; what all of this means is that many people with good credit had a little help taking their low credit score to a higher credit score by being added as an authorized user of someone with good credit. And if you’re like most people, the question you may be asking yourself right now is:

Is It Legal?

The short answer is yes it’s legal. You’ve probably heard of the FICO score. Well, FICO stands for the Fair Isaac Corporation. Just to provide you with a little background, in 2008, this organization, which is the creator of the FICO score, along with the Federal Trade Commission, went to Congress in an effort to have authorized user tradelines removed from being a factor on credit scores.

During the hearings, the Fair Isaac Corporation consulted with the Federal Reserve Board and the Federal Trade Commission, but in the end, changed their stance on authorized user tradelines thereby making authorized user tradelines legal, and since that time has proven to be the best way to build credit fast.

Why Waiting It Out Won’t Work

If you’ve ever had a credit card or loan charged off or go to collections, it is common knowledge that after seven years of no activity the account will fall off of your credit report. This is both good news and bad news. The good news is that the negative account is no longer on your credit report. The bad news is that it may or may not increase your credit score. A clear-cut way to increase your credit score is to have a revolving account that’s at least two years old and in good standing. So waiting it out for seven years for a negative account to fall off a credit report for most people is not the best strategy.

However, when you buy authorized user tradelines from a reputable company, you’ll be able to add a tradeline or account from someone else with good credit in order to boost your personal credit score, quickly and easily. In fact, statistics from a study of more than 1 million people conducted by the Consumer Financial Protection Bureau, shows that being associated with someone else’s credit accounts via authorized user tradelines is the best way to build credit fast.