Selling Tradelines FAQ
Here are some of the most common and most frequently asked questions that come up when a person thinks about becoming a broker dealing in tradelines.
1) How Much Money Can I Make Brokering Tradelines?
Being a tradeline affiliate can be a lucrative proposition. Many transactions can earn an affiliate between $30 to $500 per transaction depending on the specific nuances of each transaction. The real money-making opportunity comes when there is a higher volume of tradelines being brokered successfully. With wholesale tradelines, some sources have reported income streams of between $1,000 to as much as $5,000 per month.
People with credit issues are often willing to pay for extra help from a professional who extends offers to help them with boosting their credit scores. Those who are brokering tradelines are offering a valuable service and they are being compensated for delivering this helpful service. There are special skills involved and specific knowledge that is needed in the process of brokering tradelines including:
a) Dealing with Aged Credit Cards – Knowing how old the credit account being brokered should be for the maximum benefit to a person’s credit score. Most times the credit card should be at least two years old, and the account should be in good standing with regular on-time payments as well
b) The Ability to Make High Quality Choices – Knowing exactly how to select the right credit card accounts that should optimally result in boosting the credit score of a client, with the desired end result being improving the person’s credit and other financial opportunities
c) Knowledge Of the Entire Process – Extensive knowledge of the things that affect the brokering of tradelines like the balance that is usually paid off each month on the credit card that is being considered, how often the card is used since it should be used frequently in order for the process to work correctly, and knowledge of the overall credit goals and expectations of the client
2) What Are The Benefits of a Tradeline Broker?
Some of the best benefits to clients of selecting a professional in the brokering of tradelines include:
a) Improving Credit Scores – Helping people to repair their credit score and to make them more credit worthy through the process of successfully brokering tradelines
b) Error Correction – Helping to correct errors in people’s credit reports. Any errors found need to be disputed and corrected promptly to maximize the effectiveness of boosting a credit score using tradelines that have been bought from a broker
c) Protection From Mistakes – Protecting clients against mistakes on credit reports that may have been made by other people is a critical part that goes along with the process of adding good, credit enhancing tradelines to a person’s credit report to improve one’s credit score
d) Providing Hope – Giving people real hope to repair their credit score when many times it can seem like a never ending and an uphill battle. For some people this can be the first time they’ve ever seen a true increase in their credit score and the first time they’ve experienced the positive impact it can make on their life
e) Better Loan Rates – Providing chances for people to get better loan rates for autos, home, and personal loans due to their newly improved credit score. It’s well-known that people with excellent credit often get the most favorable rates when it comes to taking out essential loans that can help to impact and improve a person’s life
f) Cheaper Insurance Costs – Helping people with below average credit to reduce costs for insurance. Homeowners insurance and car insurance rates are often higher for anyone who has less than stellar credit, and they are lower and more favorable for those with good credit
3) Is Selling Tradelines Legal?
Interesting things to know ahead of time about legality of the process of brokering tradelines:
a) Yes It Is Legal – It is legal to sell tradelines and to have your client added as an authorized user on an existing favorable credit account
b) A Common Practice – Being a tradeline reseller or broker is a common practice and it is recognized in the credit industry as well.
c ) Credit Repair is Legal – Attempts at repairing credit in and of itself is not illegal
d) No Laws Prohibiting Selling Tradelines – There are no laws prohibiting the purchase of tradelines by a wholesale authorized user or the sale of tradelines