, a 27-year-old from Des Moines, Iowa with an MBA, is dead serious. She’s swapped insurance for the influencer business , and she’s been picking up $40 here and there with a scheme that sounds pretty shady.
On Tradeline Supply’s website recently a three-year-old Capital One card with a $5,000 limit was listed at $322. Meanwhile, a 19-year-old Chase card with a $69,700 limit was priced at $1,955–almost as much as the average AmericanThere appears to be quite a big mark-up involved. Social influencer Smith says she earned $40 from a sale that Tradeline Supply priced at $275.
“It’s not technically illegal, but whenever you have to say that something isn’t technically illegal, there’s something else wrong with it.” So in Regulation B implementing the act, the Fed required that lenders attribute payments to both the cardholder and the authorized user spouse in reports to the credit bureaus. In addition, when analyzing a person’s credit worthiness, lenders had to consider the history of any account in which the person was an authorized user spouse. But–and this is key–Regulation B didn’t require banks to figure out which authorized users were spouses and which weren’t.
, Tradeline Supply Company sidesteps any legal issues by stating that it “does not give legal advice and cannot definitively state what is legal and what is not.”, Tradeline defends the ethics of the practice–on the grounds that people manipulate their credit scores all the time. For example, the post notes, parents might put their 18-year-old on their oldest cards as an authorized user to help their kid build a credit record. Iba offers an equality spin to the argument.
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