Tradeline Supply Company takes a novel approach to credit repair services. The firm doesn’t offer you debt counseling or a debt management plan.
Instead, it acts as an intermediary between
people needing to buy an established tradeline (i.e., an authorized user
position on someone’s credit card) and those selling them.
The premise is that the new tradeline helps people to improve their credit history. The person selling the tradeline meanwhile makes money. It sounds easy, but is it? In this Tradeline Supply Company review, we’ll look at how the process works.
What Is Tradeline Supply Company Best For?
To kick off our Tradeline Supply Company review, let’s
talk about what this company does. It is not an intermediary. It connects those
who want to buy tradeline packages with people with tradelines
for sale.
If you need help with debt consolidation loans or
to find debt consolidation lenders, look elsewhere. With a tradeline,
you’ll be listed as an authorized user on someone else’s card. You’re
essentially renting their good credit history.
You don’t have access to the funds and won’t be able to use
the card. The person selling their tradeline has the card delivered to their
home and uses it once in a while. This process might help to start your credit
repair online process.
The primary benefit comes from the primary user using the
tradeline and paying it on time. If they do this, you may improve payment
history and your credit utilization rate.
What It Takes to Get Going with Tradeline Supply Company
For Sellers
You’ll need to have a credit card in good standing with one
of the following:
- Discover
- Barclays
- Chase
Bank
- Capital
One
- Elan
- Bank
of America
You must be the primary user on the card. The account must
be older than two years, and the credit must be a minimum of $2,000. You must
have a good FICO score. You’ll be paid between $30 and $450 per user
that you add. The amount depends on how old your card is, and what your credit
limit is.
Tradeline Supply will also perform a hard inquiry to confirm your
credit. While it will show up on your report, it has a negligible effect. The
person piggybacking on your report doesn’t get any of your details
either. If you’re accepted, your tradeline will be listed on the
website. You get paid when someone buys it.
For Buyers
Buyers complete the form online too. Your credit rating
doesn’t matter that much, as you’re not receiving cash. When you’re approved,
you browse through the authorized user tradelines. There is a
selection of individuals and brokers to choose from.
The Tradeline broker reviews make it simpler to
choose the right fit for your needs.
Services
Tradeline Supply’s range of services is pretty
straightforward, consisting of two solutions:
Helps You Buy Tradelines
Repairing a bad credit history takes time, even
after debt settlement. During this time, it’s challenging to get credit.
You may employ credit cleaners to clear off the adverse reports, but
that takes around two months. And, as every top credit repair company
tells you, there are no guarantees. If the listings are legitimate, the
company’s under no obligation to remove them.
Tradelines are an alternative to your
traditional credit repair website. It allows you to buy someone else’s
credit history for one account. It’s a similar principle to being an authorized
user on relative’s credit cards to build your credit history.
How effective this technique is depends on how well the
acquired history matches your own. For example, having a $20,000 perfect credit
line showing up if your score is 350 will raise red flags.
Where Trading Supply shines is that they allow you to sort the
credit lines in various ways. You may sort by age, credit limit, score,
company, or credit utilization.
This website doesn’t sell permanent tradelines. You
rent the credit lines, which the system will remove after two months. This
simply looks as though you’ve closed the account. The payment history for those
two months is visible for years.
This should be long enough to realize the advantages of
tradelines while not seeming over-indebted.
Helps You Sell Tradelines
Tradelines provides sellers with a reputable platform to
make some extra money. How much you make depends on your credit quality and
the tradeline supply price. When there’s a glut in the market, sales will
go slowly.
The company is upfront about the potential risks. If you
don’t handle this carefully, there’s a 1% to 5% chance of the bank closing your
card. This typically occurs when a user sells too many spots at once.
The advantage of this website is that you may pause
any credit tradelines for sale at any time. The firm advises doing this
occasionally to “give your cards a rest”.
Will you earn a fortune?
As Tradelines and other legit tradeline
companies are quick to say, “no”. At best, you’ll earn some extra spending
money. The upside is that it’s easy money.
We’re going to add a caveat here. Tradeline Supply
reviews from sellers aren’t overwhelmingly positive. If you check
the selling tradelines Reddit feeds, you’ll see that this is common
across the industry. It’s essential to know what you’re getting into here to
avoid disappointment.
Additional Services
The company doesn’t offer any other services other than the
resources on their website. There is much information that’s useful in repairing your credit. There’s also an extensive resource
base for sellers. The Tradeline Calculator Tool is particularly helpful.
Pricing
The price that you pay depends on the credit line you
select. They’ve got a package discount that’s interesting because you create
your own plan. You can:
- Buy
two lines and save 10% on the second line
- Buy
three lines and save 10% off the second line and 20% on the third one
- Buy
four or more and save 10% on the second line, 20% on the third one, and
30% off the fourth lines and any you buy after that
Sellers may request the commission structure by emailing the
company. The structure occasionally changes in response to market shifts.
Customer Support
The Positives
The typical Tradeline Supply Company review on
Reddit for buyers is positive. Clients appreciate the affordable pricing,
excellent service, and simple platform. Many clients report an increase in
their credit rating.
The Negatives
The complaints are primarily from sellers pointing to the
discounted commission structure and how long it takes to sell. One client
complained that their purchase did not affect their credit report.
The company offers a guarantee that your line will list on
the bureau within the reporting cycle. If it doesn’t, you may claim a refund on
that account.
Our Verdict
Our Tradeline Supply Company review can confirm
that the company is legitimate, but it’s not the best option for everyone.
Buying credit lines might give your rating a quick boost if you’ve started on
the road to financial recovery. If you’re still mired in debt, however, you’re
better off speaking to a more conventional credit repair company.
Wrap Up
Our Tradeline Supply Company review ends on a
positive note. The company offers a useful service, is transparent, and charges
affordable rates.
FAQ About Tradeline Supply Company
What is Tradeline Supply Company?
Tradeline is a marketplace that connects people buying and
selling lines of credits.
Is Tradeline Supply Company safe?
Yes. Your information is safeguarded. The person buying the
lines doesn’t have access to your sensitive financial information.
How do I sell my Tradelines?
Go to the website and click on “Sell Tradelines”. Input your
name, email address, and phone number, and confirm that you are not a robot.
The company will send you an email with information on which cards qualify and
what your next steps are.
Is Tradeline Supply legit?
Yes. The company is well-established and has several
positive reviews.
Are tradelines permanent?
No. The lines run for two months before being removed. The
positive effects, however, last for years.
How much can you make selling tradelines?
Right On!
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