How to Monetize Your
Good Credit
Do you have an excellent credit score and an established credit card account? You could earn extra money each month by adding authorized users to your account for a fee. This practice is called selling boostlines. This is a common service that requires minimal time and effort from you and could earn you thousands of extra dollars each year simply by monetizing your good credit.
Selling boostlines is totally legal and a fantastic way to help others build their credit by piggybacking off of yours. If you’re wondering whether selling boostlines is right for you, keep reading. We’ll discuss what boostlines are, how much you can earn selling boostlines, who’s a good candidate to sell, and the potential risks involved in doing so.
Let’s dig in!
What Are Boostlines, and What Does It Mean To Sell Them?
Boostlines are credit tradelines purchased for the sole purpose of piggybacking on someone else’s positive credit data.
Individuals with a limited credit history or low credit scores who are looking to accelerate the process of building credit will pay to be added as an authorized user (AU) on someone else’s credit account. These accounts are owned by individuals with excellent credit history, which reflects positively on the AU, helping them increase their score.
If you are someone with excellent credit, you can earn money by selling the privilege of being added to your credit account as an authorized user. In doing so, you’ll be helping someone with poor credit improve their credit profile and open doors to reach their financial goals.
Not only does selling boostlines help you earn extra money, but you’ll be providing a valuable service. With their new and improved credit scores, authorized users will be able to qualify for additional credit products, negotiate lower interest rates, and have an easier time securing apartment rentals or jobs.
For more detail on how authorized users can build their credit with tradelines, check out our guide to how tradelines work.
Where Can I Sell Boostlines?
The most effective way to earn money selling boostlines is through a boostline broker like CreditBull.com.
If you were to sell boostlines on your own, you’d be responsible for marketing the service to prospective clients. Then you’d have to process the payments and manage all of the admin work and customer service involved in providing this type of service.
When you sell boostlines through CreditBull, we take care of all the admin, marketing, and logistics. All you are responsible for is adding and removing AUs when the time comes. This streamlined process makes selling boostlines a super simple way to earn some extra income without any hassle.
Who Can Sell Boostlines?
If you have an excellent credit score, there’s a good chance you’re a candidate for selling boostlines. The most valuable boostlines are associated with accounts with perfect payment history that have been open for several years and have a high credit limit.
At CreditBull, we only sell tradelines from account holders with credit scores over 700 and credit cards that have been open for over two years.
We also require that the accounts in question have a credit utilization rate under 30%, as anything higher than that won’t be beneficial to authorized users.
Do you have any accounts that fit the bill?
How Much Can I Earn Selling Boostlines?
The exact amount you earn selling boostlines will vary depending on your accounts’ strength, credit score, and how many boostlines you sell each month. You could make anywhere from a few hundred to $1,000 per month.
Typically, aged credit accounts with high limits are more valuable than new, low-limit accounts. Access to a newer account (less than two years old) with a low limit (under $2,000) will likely sell for a few hundred dollars, whereas an established account with a high credit limit could sell for up to $2,000.
Your credit score also factors into how much you can earn. Generally, a credit score over 700 is required to sell boostlines, and the higher your score, the more valuable your accounts are.
Keep in mind that when you sell through a broker like CreditBull, we retain a portion of the revenue from each sale. We work hard to ensure the sale process is as simple as possible for you, making this a practically passive way to earn money.
Is It Legal To Sell Boostlines?
Selling boostlines is completely legal. Adding authorized users to credit accounts is an entirely acceptable and common way to help others improve their credit. This technique is frequently employed by parents who add their teens to their credit accounts to kickstart their journey to building credit.
Unfortunately, not everyone has a friend or family member who is willing or able to help them in this way. That’s why selling boostlines is such a valuable service.
Will The Authorized User Have Access To My Credit Account?
When you add an authorized user to your credit card account, you do not give them access to the card itself. The AU benefits from your positive credit data because your account will appear as a tradeline on their credit report, but they don’t have any access to the account. They cannot spend money on your credit account or make any changes to the account.
Are There Risks With Selling Boostlines?
There are some risks associated with selling boostlines. While you’re unlikely to encounter any of these issues, it’s still good to be aware of the possible problems so you can take precautions to avoid them.
Terms of service violations
There is a possibility that your credit card company will decide that you are violating their terms of service by selling boostlines. This isn’t likely to occur unless you are frequently adding and removing authorized users. Such activity could cause your credit company to flag your account. While adding AUs is a common and accepted practice, your credit card company may look down on a revolving door of AUs.
With this in mind, try not to add more than one or two authorized users at a time.
Having your account shut down
If your credit card company deems authorized user activity suspicious, they may close your account. Not only would this limit your ability to make money selling boostlines, but it could also damage your credit score, especially if the account in question is well-established. As long as you dont sell your boostline too many times in one month, you shouldn’t have a problem with your account.
Data breaches
Because your account information will appear on someone else’s credit report, you automatically become exposed to further opportunities for data breaches. Again, this is unlikely to happen, but you should be mindful of the possibility.
Unauthorized purchases
Because your account lists the authorized user by name, there is a chance that they could contact your credit card company and request that a physical card be sent to their address. While it will be challenging for them to succeed in doing so without additional information about the account, it is a possibility. If successful, they would be able to spend money using your credit card.
Precautions you can take
Before you begin selling boostlines, take the following precautions to protect your account from the issues discussed above.
- Limit the number of authorized users you add at one time, and avoid adding and removing AUs with too much frequency.
- When you add an authorized user to your account, your credit card company may automatically issue a card in their name. Request to have that card sent to your address so the AU doesn’t have spending power on your account.
- Set up two-factor authentication on your credit card accounts to make it difficult for anyone who is not you to access them.
- Monitor your credit report regularly so you can spot any unusual activity and report it immediately.
Could Selling Boostlines Affect My Credit Score?
Generally speaking, selling boostlines does not affect your credit score at all. You are helping to boost someone else’s score by allowing them to piggyback on your positive credit data, but none of their data reflects on you.
However, selling boostlines could affect your credit score in the unlikely event that your credit account is shut down. Having your account closed will affect your credit history length and credit utilization ratio, both of which could lead to a decrease in your score.
To ensure your accounts remain active and protect your credit score, avoid adding too many authorized users to your account at once, as it could trigger a fraud alert.
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How Can I Start Selling Boostlines?
If you’re ready to start selling boostlines, you can list your accounts through the CreditBull marketplace to start earning extra money. All you need to do is fill out a short questionnaire to get started.
Then you’ll be connected with one of our financial analysts, who will verify your account data and walk you through the steps to take to list your boostline on the marketplace.
Once you make a sale, we’ll contact you with the authorized user’s information, and you will add them to your account before the next statement period ends.
Call CreditBull to find out more information: 1-888-982-2855