Is there a danger of me renting out too many of my tradelines?

Discussion in 'Credit Talk' started by @myshorts, Mar 20, 2015.

  1. @myshorts

    @myshorts New Member

    To make some pocket money, I've been renting tradelines on 1 MC I have. I've only been doing it for a few months -- 2 people the first month, 2 the second, and 4 this month. Per usual, these people only stay as AU's on my cc for a month before I remove them. I of course don't want my cc to shut down my account for any reason. Is there a max number of tradelines you can rent safely every month? Is it worthwhile to have a month of no rentals every now and then to let the account breath, or whatever?

    Just want to be safe!
     
  2. mindcrime

    mindcrime Well-Known Member

    Creditors do not see what you are doing (pertaining to AU's) with other creditors. You could theoretically rent them all out.

    The risk is in allowing a stranger access to your credit accounts.
     
  3. @myshorts

    @myshorts New Member

    My question isn't about what one creditor would see about another creditor... More like would Bank of America smell something fishy if I was renting out 4-5 AU spots on one card every month to different people? I wonder if they might shut me down for that. Not that I'm actually doing anything wrong, but they might not like it. Just a concern of mine.
     
  4. mindcrime

    mindcrime Well-Known Member

    When you said this,

    it sounded as though you were referring to multiple credit cards. One credit card = one TL

    to answer your current question,

    It's possible, though I can't recall it being widely discussed. The risk is higher to you more-so than BOA. If an AU defaults, you're on the hook, not the AU or the bank.
     
  5. @myshorts

    @myshorts New Member

    Sorry for the confusion. I guess I don't know all the lingo. :p

    The AUs I'm renting spots to never even get the card, nor have any other access to my personal info. I'm not worried about anyone other than me making charges to my account. I'm a little worried that BofA could see that every month I'm adding and then removing a bunch of new AUs, and say, "hey, wait a minute, you're playing our system, and we don't like that." And decide to spank me by shutting down my credit card.
     
  6. jshimmer

    jshimmer Well-Known Member

    >> The risk is in allowing a stranger access to your credit accounts.

    An AU can not 'access' someone's 'credit account'. An AU has no ownership. Therefore, an AU can not request a card be sent to them, discuss the account/the account holder's information/any account details with the bank/lender, nor can an AU make any request to change the account (e.g., raise credit limit).

    An AU is not like a joint cardholder or joint borrower on an account.
     
  7. Bbiendayer

    Bbiendayer Member

    No i think it is not you can manage those number of traders but if you cant then it'll be a bit.
     
  8. mindcrime

    mindcrime Well-Known Member

    Agreed.

    But never having rented myself out like OP was asking, I was not aware that the AU (renters) never get a card.
     
  9. jshimmer

    jshimmer Well-Known Member

    I always thought the practice was ignorant in general. If you have to "rent out" trade lines in order to make ends meet, well, I don't know what to say ...
     
  10. Akronguy

    Akronguy New Member

    I would be careful. I take care of my disabled sister and I am an AU on one of her cards and it shows on my credit report. ( which is why people do it of course ) but it also shows part of the account number. Are you sure they couldn't call the bank? I'm also sure that the bank would eventually pull the plug if you're getting too many cards issued. I wouldn't do it.
     
  11. JoshuaHeckathorn

    JoshuaHeckathorn Administrator

    I've never been a fan of the practice myself either. But over the years I've learned that a lot of people actually do buy and sell authorized user tradelines, and it can help to boost scores in some cases. According to FICO, their latest credit scoring model includes the ability to exclude purchased tradelines though, which I have no idea how they do. Seems impossible to me, but they say they have figured out a way.

    Has anyone out there recently purchased a AU account and seen it help to improve their credit scores?
     

Share This Page