C-Suite Advisory

5 Effective Ways to Make Money Using Tradelines

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Whether you want to make some extra money from a side hustle to supplement your income, or want to find a passive income that doesn’t require thousands of dollars up front, tradelines may be for you. For roughly an hour’s work each week, tradelines may be your key to hundreds of dollars a month. Here are 5 effective ways to make the most out of tradelines.

1. Understand What a Tradeline Is

In a nutshell: tradelines are used to describe a credit account; they can be lines of credit, car loans, mortgages, etc. For our purposes, we’re focusing on credit card tradelines. How you can make money is by adding an authorized user (AU) to your credit card. You will be paid for this; usually, the AU is someone who has bad credit. To be added, the person with bad credit pays X amount of dollars to a credit boosting company. This company then pairs that bad-credit person with a good-credit person (you). The company rewards you for this “piggyback” system by paying you directly for your services.

2. Repeat the Process

One of the biggest ways to make between $100-1,500 monthly in additional income is to… guess what… add another AU! Simply repeat the process with someone else who has bad credit. After a month or so after having their score boosted, they will be removed as an AU and you will be rewarded for selling tradelines.

3. Add More AU’s

There are a number of factors that determine your income. For our purposes, let’s say each AU nets you a hefty $150. If you have 3 credit cards, and have an AU signed to each card, that’s an additional $450 each month once you continue the cycle. Not bad, right? Instead of using only one AU on one card, add authorized users to each credit card you have. None of them will ever have access to your credit card account.

4. Minimize Card Closures

Basically, your credit history is being copied-and-pasted into their credit history; their bad history will be completely gone. The person who has the bad credit is “piggybacking” on the person with good credit. Seems like you’re golden, right? However, selling too many AU tradeline spots has its drawbacks. While completely legal, a lot of credit card companies frown down upon this practice. To keep this from happening (and keep your income strolling through the front door), never deal with a credit boosting company who sells more than 2 spots with banks. In all likelihood, they don’t care about their credit partners’ cards getting shut down. Don’t act suspicious by having too many AUs on one card.

5. Referral Commissions

Credit boosting companies pay cardholders a commission. The more AUs that are added to eligible credit cards, the more referral commissions are paid. Be aware though, to be sure these people will be added to cards that are yours. Payment strictly depends on your ability to keep your cards open – and you will not receive payment of any kind if your cards are shut down, regardless of the number of referrals you brought on board.

Remember, everybody’s accounts are different. Although tradelines seem like a wonderful financial opportunity, be wary of the risks involved. How much you can make depends on how old your card it is and how large the credit limit (available credit) is. The older and higher, the better for the AU, the better for you. Therefore – before beginning, call your CC companies and increase the limit on your cards.

Have you read?

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Alexandra Dimitropoulou

Alexandra Dimitropoulou

VP and News Editor
Alexandra Dimitropoulou is a VP and News Editor at CEOWORLD magazine, working to build and strengthen the brand’s popular, consumer-friendly content. In addition to running the company’s website, CEOWORLD magazine, which aims to help CEOs, CFOs, CIOs, and other C-level executives get smarter about how they earn, save and spend their money, she also sits on the Board of Directors of the Global Business Policy Institute. She can be reached on email alexandra-dimitropoulou@ceoworld.biz. You can follow her on Twitter at @ceoworld.