Let us know if this sounds like you.
You’re an entrepreneur, right? You have ideas that you want to execute within the world. And you, for whatever reason have found a great revenue source, have happened upon these things called tradelines, and these things are…well they’re pretty incredible. And here’s why:
If someone wants to do something involving lending, then they need fair to good credit just to get qualified, and you having access to authorized user tradelines allows you to create approvals where before would be declines.
Make no mistake about it. That is worth a lot of money. And if you have more money, you are able to execute those ideas you have.
Money is simple. Sales are simple. If you have something that provides a great service, people will line up to pay you. But if you are going to offer tradelines for sale, the best way to maximize your profits is to understand, and be able to explain, what they do…
When it comes down to it, the more informed you are, the easier it will be to provide excellent service to your clients.
So, today, we would like to talk about just a few of the things you should know in order to effectively sell these lines, and why we guarantee what we do as a provider of authorized user trade lines.
WHAT CAN BE DONE WITH AU TRADE LINES?
You’ll probably get this question a lot. “Do you have primaries?”
We get that question a lot.
There is the sentiment that primaries are better than authorized user spots, but it’s not accurate.
Truthfully, it all depends on what the clients are trying to do, but let’s use purchasing a mortgage for example, as we run into clients a lot who are looking to do just that.
Most mortgage loans are underwritten by either Fannie Mae, Freddie Mac, or FHA. The requirements on the credit report are that the client has 2 active accounts that have at least 2 years of history (or something similar in each case).
This illustrates why someone may buy authorized user tradelines, as they can count for those 2 active accounts.
The bank they are trying to get the loan from may have a different overlay of qualifications the client needs to fit in order to generate the loan, such as having an individual account in their name. But, the good news is that with the au lines, the client can get approved for credit cards (tradelines) of their own, thus checking that box.
Most people come to us because they want better scores, and that’s why people buy the lines mostly, to boost credit. And the lines will certainly do that, just make sure you, the broker, clean up the negatives as best you can. Next point…
HOW COME WE ONLY GUARANTEE 2/3 CREDIT BUREAUS OUR TRADELINES FOR SALE?
Everyone, and we mean everyone, wants lines that post to all 3 credit bureaus. And just to be clear, most of the time our lines do post to Experian, Trans Union, and Equifax…all 3, but every once in a while, a line will only post to 2.
That is a successful posting.
Because anyone with 2 bureaus in good standing should be able to accomplish their lending goals. How? Mortgages toss the highest score and the lowest score, so if there are two bureaus in good shape, that means one of them will be the middle score (even if the third report is blank).
If trying for a credit card, or an auto loan, the client can research where the lender they are applying to pulls their credit from. So, if a bank pulls Equifax, and that bureau is the one without a line, the client can try elsewhere.
If you are interfacing with our site and offering authorized users for sale, that is extremely valuable to know, so you can properly set the expectations with a customer.
If they absolutely need a single bureau to have a line posted on it, we suggest either buying two lines, or reiterating, strongly, that 2 out of 3 bureaus (and we can’t say which 2) is what the guarantee covers.
That’s it for this week. We are always available to answer questions, but we would like to repeat, the better informed you are when offering credit lines for sale, the more you understand how they work, the more successful you will be.