Become A Tradeline Broker and Begin Selling Tradelines Today
Posted on 04 January, 2023 by Miranda Bottas in Tradeline Brokerage
If you're ready and willing to take on a new source of income that offers complete flexibility and freedom, you might want to learn more about becoming a tradeline broker. You can set your own hours, employ your own methods, and determine how much you want to make depending on the amount of time you invest.
When you already work in finance - especially in the loan or credit repair industry, this can be an incredibly lucrative endeavor for you. It's an opportunity that will help you make extra money on the side while improving the client's experience at your day job.
What Exactly Is a Tradeline Broker?
A tradeline broker sells authorized user statuses to people who are seeking to increase their credit scores. An authorized user is someone who is added to a credit card account by the primary cardholder. This is done for two reasons. Firstly, the buyer wishes to increase their credit and is willing to pay money to do so, and the seller has a card with impeccable history that is well aged and with a respectable credit limit.
As a broker, you work by connecting these two people and essentially creating the transaction. The whole process is simple and carried out online, so don't think it's more complex than it really is.
All you're required to do is:
- Signup as a tradeline broker and learn the basic process
- Gather the correct information about your clients
- Visit our website, login and buy the tradelines for your customer
- Wait for verification that the authorized user (your client) has been added to the account by the primary cardholder
- Inform your client that the process has been completed
- Wait until the end of the card's billing cycle for the lender to report the new authorized user to credit bureaus
And that's it. In all honesty, it doesn't demand a lot of time or work and the majority of the process is completely automated. The amount of money you make depends on two things - the amount of clients you have, and any markup costs you charge for the delivery of these services. If you're able to provide a high volume of clients, the website where you buy tradelines will probably offer you a discount or some kind of bulk pricing. It depends on the company you choose to make your purchases.
With over 7 years of professional experience as specialists selling tradelines, GFS Group likes to think of ourselves as an industry leader and one of the top choices for anyone looking to become a tradeline broker. We're honest, reliable, we have a large variety of high-quality inventory, we operate on trust and with morals, and we have excellent reviews from our satisfied clients which include buyers, sellers, and brokers.
What Does A Tradeline Broker Do?
Brokering tradelines allows all involved persons to benefit monetarily by utilizing the seller and the buyer, plus a card supplier (wholesaler) and people like you who broker the credit card tradelines.
When someone is looking for a way to dramatically increase their credit score in a relatively short period, there is literally no better way than by becoming an authorized user on a powerful line of credit. Let's use an example by pretending you want a mortgage loan but just cant qualify for the amount you'd like or the interest rate you're seeking. Maybe the bank wants a higher down payment, or to see a higher credit score on your behalf. Well, if you purchase the right tradelines, they will act as hard leverage to raise your score making you much more desirable to lenders. You can qualify for loans you'd never qualify for, or, receive loan approvals on much more favorable terms than if you hadn't bought the tradelines in the first place.
This all happens because of the way the credit scoring system works. It's based on a very complex algorithm, however, it still uses one of the most basic mathematical rules of all - averages.
Let's say your credit is considered to be good from a lending perspective, you have a 678 score, there are no late payments on your record and you're not up to your eyeballs in credit card (or any other) debt. However, the combined age of your credit cards is only 4 years (learn more about how your credit score is calculated here). If you purchase a couple slots that are at least 10 years old, your average credit age will raise significantly. And when those cards have near zero utilization, a perfect payment history and much higher limits than your own cards, the result is multiplied. In the end, your overall averages (limits, utilization, and age) will be much higher once those accounts appear on your credit report. This forces your credit score to shoot up drastically, with the results depending on initial state of your credit report and the specific cards you choose to be added to. If you can reach the mid-700's or higher, you'll be rewarded with much better creditworthiness than you had with a 678.
Being a tradeline broker, you can improve the results by having a good understanding of your client's financial position and their intent for purchasing, as well as an excellent understanding of how becoming an authorized user on any given tradeline will affect their averages and ultimately improve their score.
As we mentioned before, if you work in areas of finance or credit repair, you'd understand quite well how this all comes together. Furthermore, being a professional in these fields gives you almost guaranteed direct access to an endless supply of clients who can benefit from the power of becoming an authorized user.
Sometimes it requires just one tradeline to see an immense improvement, and other times a tradeline package might be the best decision. No two clients have exactly the same credit history so it's your job to help them make the right decision and purchase the lines that will provide them with the most leverage. All in all, it's a relatively basic, easy, and no-strings-attached type of job. After making a few purchases and seeing the results that your clients have, you'll have a good understanding of what works best and you'll continually improve your strategy to deliver the best outcome possible.
At the end of the day, you'll be making money for yourself, making money for the primary cardholder who is basically renting a slot on their card, and simultaneously aiding your client and their financial future by bumping their credit score up to a number that would not be achievable in such a short span of time.
Seeing someone achieve their financial goals (whether it's a new house, a new car, or simply helping them save a ton of money in interest) is a great feeling and it's even better to know that you made money for yourself while being the middleman of this process.
Yes, this work is legitimate. Yes, this process is legal. And yes, the amount of money you make is determined by nobody else but yourself.
Getting Started Working As A Tradeline Broker
Does selling authorized user tradelines to people in need sound interesting to you? If it does, you need to check out our tradeline brokerage page now. Our process utilizes a state-of-the-art system for purchases and offers an easy to use interface where you can manage your clients and keep tabs on each account. This job doesn't take a rocket scientist, it just requires some basic understanding and the dedication to help others succeed while helping yourself.
Our team offers excellent support for our brokers and are always ready to help you in the process with various resources, hands-on assistance, and a fair & fast payment structure. We know the industry well, and we know that our brokers program is one of the best our there to date. Many of our current brokers have previously sold for other suppliers. The vast majority of them comment that our process is better, smoother, and that our methodology is top-tier, along with the quality of our products and their ability to resolve any issues that may arise. They are loyal to us and to their customers, and they have our trust and loyalty in return.
Becoming a tradeline broker isn't for everyone but for those who are inclined to do the job, it can be a very fulfilling and lucrative one. Especially if you have a passion for what you do and enjoy helping people create a better future for themselves. We'd be happy to have you join our team today, and you owe it to yourself to take a look if you're interested. There's no pressure, no work schedule, and no minimum (nor any limit) on the amount of positions you sell.
Best of all, you have the freedom to work from wherever you please, whether it's from home, the coffee shop, or even right from your car while sitting in the supermarket parking lot. The only tools you need are the internet, the ability to communicate well, and a good attitude. Learn more and get yourself rolling as a tradeline broker with GFS Group today.
Tradelines For Sale: The Key To A Fast Credit Score Increase