You have stumbled across the greatest business opportunity in EXISTENCE. This isn't "Multi-Level-Marketing" or anything like it -- This business is Credit.
Unlike other websites that feed you a bunch of fluff about the "opportunity", and ask you to waste your time listening to conference calls for hours on end before revealing the product, we are going to cut to the chase.
The company is Seasoned Trade Lines, LLC. We market a program that allows our clients to legally and ethically add up to 200 points to their credit score in 90 days or less, by becoming an authorized user on established credit card accounts. We have hundreds of satisfied clients, and have been in business for 2 1/2 years.
As I read the page, my interest was peaked, how could I make money through the credit industry?
Well it wasn't long, before www.tradelinebroker.com/ was telling me their plan.
Seasoned Trade Lines, LLC in affiliation with several other online properties, receives hundreds of online requests for credit help daily.
When our clients enroll with us, we pay folks in our Credit Network (that's you) to add our clients as an Authorized User to your accounts. You will specifically ask your credit card company to send only 1 card in the name of our clients to YOUR home. You will place a charge on your card in any amount, and 60 days later the history of your account(s) will appear on our clients' credit files That's it! In fact, even Fair, Isaac, and Co. (the people who invented the FICO score) say that the fastest way to build credit is to be added as an authorized user to established credit card accounts. The FTC even says that this technique can help those who couldn't ordinarily obtain credit such as students and home makers
Pretty powerful stuff coming from the guys who write the rules.
The fact is, adding seasoned trade lines to a credit file is the fastest way to build prime credit. The only catch is that all primary account holders must continue to maintain their accounts.
What? Do I have stupid written across my forehead? They actually want people to add strangers to their credit accounts? If that isn't the stupidest thing I have ever heard. Like Dave Ramsey says, if a bank won't learn someone money, there must be a reason why.
Of course, www.tradelinebroker.com/ tries to reassure the reader of their page that it is safe.
Your good credit will always be protected.
Our clients will never know who you are, and if they do not maintain their credit, it has no effect on you whatsoever.
Your credit card company will issue a card in our clients' name, and only you will receive the credit card issued to that person.
Use that card once or twice for anything, and the next credit reporting period that cards history will be place on our clients' credit file...
All members are paid $50-$150 for every client of ours who purchases 1 Authorized User account. Total workload is roughly a 5 minute phone call to your credit card company, per authorized user. Most of our clients purchase 3 - 4 Authorized User accounts, so if you have 3 - 5 accounts that meet the criteria, you would be paid $150 - $450 for 20 minutes of work! Some of our card holders maintain 10-20 good credit cards, some with an unlimited # of authorized users that can be added, and make in excess of $2000 a week.
Finally, the website promises
No work or fees is required. Just say "I want to come on board", and your in. You will receive payments 24 hours after a client pays their fees.Oh, Well, I guess I will just have to ruin my good name, to help some stranger raise their "credit score." jeez, no thanks.
We all knew that is was coming. As FICO 08 came and made using Authorized User reporting obsolete, the credit companies are finding these "Seasoned Accounts" and are deleting them from credit reports. How where these seasoned accounts working? Well, the first step would be to find a company that would sell them. Nowadays they are a dime a dozen and you could probably find them in a Google search.
ReplyDeleteAfter you spend your hard earned money to these companies, the only thing they can do is back date when the account was opened. The credit reporting agencies do not allow the payment history to be back dated. So the idea of getting a seasoned account with seasoned positive pay history, IS NOT A REALITY. The only thing it will do is show a NEW account with an old open date. This does nothing to help bring your score up like these companies would have you believe.
Now for the best part. The credit reporting agencies are noticing a lot of this "Seasoned Accounts" posting and are doing research on them. Here is an example that was just told to me by a good friend in the trade line business.
Example:
Jon went to XYZ Seasoned Credit company and purchased 5 seasoned trade lines and a few authorized user accounts. He was able to build 700+ scores. He took his new scores and went and got a business line of credit at one of the top ten banks. He used that unsecured line of credit to further his business.
A few months later one of the credit bureaus caught the "Seasoned Trade Lines" and deleted them from his credit report. They even took it a step further and wrote a letter to every opened account and anyone that inquired on Jon's credit report stating that the accounts that where on Jon's report where fraudulent and anyone that issued credit to Jon should be aware of that fact.
The top ten bank that extended the business line of credit to Jon canceled his line of credit with them and demanded he pay the remaining balance in 30 days, or the Attorney General would be contacted and Federal Charges would be brought against Jon for fraudulent information on his credit report, which the bank based his credit worthiness on.
Do you still want a Seasoned Trade Line now?
The only way to LEGALLY add a trade line, whether it be a revolving line of credit or installment loan, with positive payments is to make payments every month to a vendor that extends a line of credit or installment loan to you.
There are many of them out there to choose from. Google "Catalog Card" and take your pick. SBLending.biz provides high revolving lines of credit to anyone. And you have the ability to use your line of credit to purchase vacations to destinations like Hawaii or St. Thomas at reasonable monthly payments.
Seasoned Trade Lines, just like Authorized User accounts are now flagged and the credit bureaus are taking action to not only delete the accounts, but also make sure anyone that extends you credit will be notified that your accounts are not real. So if you enjoy your freedom, like I do, RUN from the seasoned trade line companies. They will soon be disappearing.