Tradeline sales are an increasingly profitable (and popular) decision for many (it may even be considered “rental” because the same system is involved in the process).
If you’ve heard all the hype about making a profitable passive income from tradelines sales but don’t know how to climb, stay tuned. Here are 5 easy steps to selling tradelines.
1. Credit history
If you do not have a clear credit history or have committed a loss, you will not be approved. That’s why people with poor credit use the trendline. Your account must be in good standing because you are “carrying” someone with bad credit. There are many services that you can use to check your credit history online.
Then look for companies that broker trendlines. These are called credit boosting agencies. It requires hard work. Most of your research should revolve around account verification because banks do not like this practice. trendline sales are a delicate process. If you really want to throw your company for a loop, ask their clients if they are checking any LexisNexis background. It is an online service that lets you reveal confidential information about people.
3. How it works
After selecting your trendline company, look for the credit cards that you will use to sell your trendline. An authorized user (AU) is a person to whom credit is less poor. They pay a certain amount of money to the credit boosting company – say purpose 1000 for our purposes. The company will then “associate” your account with you because your account is in arrears. The person with the bad credit will then “piggyback” your score until they are raised and then they will be considered good credit.
4. Add The AU
You will receive an email over time. This email will confirm that your trendline was sold. This does not mean that you will get the payment then you have to add AU to the listed card along with the instructions given. Add au. After some time, you will get a new card with AU listed.
In a few months, you will be instructed to remove the UK – and instructions will be sent to do so. All you’ve to do is follow the instructions. However, in that time, you will have to buy a few items here and there and charge them to your card. All you can do to keep it active and then repay at the end of the month is to keep the suspicious dog away behind you. After some time has elapsed, call your CC company and remove the AU from your account.
You will receive a 1099 report from the credit incentive agency you have chosen. Fill out this report and give it to the IRS to claim this money as income. Since a few credit enhancement companies can be scammers, look for companies that have been operating for the past four years or more.
Be careful: your account may be closed if it is discovered that you are adding a trendline. That’s why it is recommended to add only 1 or two authorized users for each of your credit accounts.
Remember: The amount of money you receive through the company depends on two factors: the credit limit of the card and its age. The older your card and the higher the limit, the more money you will get to take the risk.
You can learn more about how to sell or buy and get an instant quote from Splendid Credit. Splendid makes it easy and secure to sell or buy your tradelines. Visit here to know more – buy credit tradelines