You can sell tradelines to earn money by adding authorized users to your credit card for a set charge. It takes an authorized user about two months to stay on your account, after which you are notified when the user can be removed.
Let’s discuss what tradelines are. How can you sell tradelines and earn cash?
What Are Tradelines?
Your credit report lists your tradelines as debts or credit accounts. Tradelines are separate from each other. A person with five credit cards has five tradelines. The most common tradelines are those for credit card purchases and sales. They are also given mortgages and other debts.
This includes the name of the lender, the account type, the monthly and current balance, the date of opening, payment history, as well as the last four digits of your credit card number.
Sell tradelines to earn money
For calculating your credit score, credit bureaus use tradelines. The older the tradeline, the more significant the credit boost the buyer will get. Credit card balances that use a low percentage of their credit limit and are paid on time will boost your credit score.
Credit-worthy individuals can add an authorized user to improve the credit score of the new user. Users add their young adult children or spouses to credit cards to improve their credit scores. In other words, selling tradelines comes from this practice.
So, now you can sell the right to use your good credit to someone else instead of adding a child or spouse to your family. An increased line of credit and credit boost could enable them to qualify for a mortgage or a loan with more favorable terms or a lower interest rate, potentially saving them thousands of dollars.
Sell tradelines, and how much money can you make?
Per tradeline, you can earn different amounts. Depending on your tradeline, you can earn anywhere from $125 to $275. A reputable broker, Tradeline Supply Company, estimates you can make $50 to $350 per authorized user. The rate varies depending on the credit limit and the age of the card.
How to Sell Tradelines?
A brokerage service is the easiest way to sell tradelines. Buy and sell tradelines through Tradeline Supply, BoostCredit101, and us!.
You can sell tradelines to add authorized users to your credit card for a set charge. It takes an authorized user about two months to stay on your account, after which you get a notification when you can remove the user.
Depending on the age of the card, the credit limit, and credit score, you can receive different prices for selling tradelines. Many banks and credit card companies have reporting practices that are more favorable and can command higher prices.
How do I start a tradeline business?
You can receive tradelines if you open an account with a company reporting to the business credit bureau. Finance tradelines such as credit cards, loans, leases, and lines of credit can appear on your credit report. You can add vendor tradelines to your reports if you maintain trade accounts with vendors (such as net-30 accounts).
Selling tradelines is like renting out your Credit Score
You won’t see any negative effects from selling tradelines. In addition to enhancing your credit score, the new authorized user won’t harm it. However, if your account is closed because you sold too many tradelines, your credit rating could be affected.
You will usually increase your score by 40-45 points when you purchase one tradeline. Additional trade lines can boost your score even more. You can buy up to five accounts from some companies, increasing your FICO score by approximately 200-225 points.
Conclusion
You already willingly lend your tradelines to family and maybe even friends. Why not sell your extra tradelines to other people and help them achieve their goals? You can sell tradelines for a set fee to add an authorized user to your credit card.
Shameless plug
If you are not convinced by any of those options you can always buy my tradelines on eBay here. [2022 Edit] I am now selling the tradelines on this very site here. If you want to sell your tradelines here please contact me.
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