Seller FAQ

While we are not lawyers, the short answer is that every indication points to "yes". The longer answer - in the 50 year history of consumers using their tradelines to benefit someone other than the primary cardholder, there's not been any example that we are aware of where this practice has been deemed illegal. In fact, the practice of conferring the "benefits or burdens" of a tradeline to authorized users (particularly spouses) of the primary cardholder has been codified into federal law via the Equal Credit Opportunity Act (ECOA) of 1974 (Regulation B). There have been numerous lawsuits brought by government agencies against companies offering tradelines for sale, and in these lawsuits the legal issue has never been whether the practice of buying/selling of tradelines is legal. The issue that they raise is generally false advertising/promises that were made to the consumer.

It depends on who you ask, and on your perspective. The context of the ECOA Regulation B was that as divorce became more common in the United States, women often found themselves at a financial disadvantage after a divorce since their husbands often had most of the financial accounts (inluding credit cards) in their own name. Once a divorce was complete, the ex-wives found themselves without much (or any) of the established credit related to the household's finances. By requiring credit card companies to report credit history fopr a tradeline for authorized users of the card, the federal government made sure that the husband and wife would each inherit the related history of a tradeline. As determining who was/was not a spouse in these situations could be a burden, it became common practice for credit card companies to report all related credit history on a card to all authorized users. As a result, families discovered that they could use the authorized user status to confer positive payment history to their children, other extended family, or even friends. As a result, people who are more likely to have great credit are able to extend the benefits of that credit to people in their social circle. Some would view this as an unfair advantage that contributes to economic disparity. Making tradeline history available to consumers who may not have access to family with positive tradelines helps level the playing field when it comes to establishing credit.

It goes back to the ECOA of 1974 passed by Congress. The short explanation is that as divorce became more common, divorced women often found themselves at a financial disadvantage because many of the household financial accounts were tied to their husband's credit. Once divorced, they found themselves starting over with limited access to credit.

A U.S. federal law that ensures that all consumers have equal access to credit, regardless of their race, color, religion, national origin, sex, marital status, age, or the fact that they receive public assistance. The law aims to prevent discrimination in the lending process and promote fairness in the extension of credit.

piggybackerz.com uses comparison pricing of tradelines with similar age and credit limit across multiple tradeline resellers to competitively price the tradelines made available by our sellers.

Sellers earn a commission equal to 30% of the sales price of their tradeline. (Most other tradeline resellers provide a commission that is approximately 10-20% of the sales price.) The other 65% of the sales price goes towards covering marketing, payment processing, employee, and operating costs and (hopefully) a little profit left over.

A commission is earned from a sale when all conditions of the contract are met by the seller. This includes maintaining a credit utilization of 15% or less throughout the contract term, maintaining the tradeline's perfect payment history, and maintaining the buyer's authorized user status for two consecutive reporting cycles. Lastly, the tradeline information must report to the Buyer's credit profile. The timing of this process is approximately 2 months.

Sellers are sent any sales commissions that are earned in a calendar month on the first business day of the next calendar month.

Sellers may receive their commissions via PayPal or an ACH transfer to their bank account.

Yes. Income from selling tradelines is considered taxable income. We send 1099-NEC notifications to both you and the IRS so that you can properly report your earnings.

We send the 1099-NECs out in January for the prior tax year.

Buyers will receive no information about you. The only information that they will have will come from what they can see on the tradeline's inventory page…namely, the card's issuing bank, credit limit, and account open date.

We utilize your CreditKarma information to verify that you are maintaining your perfect payment status on the enrolled card, as well as maintaining a utilziation rate under 15%. As we provide a money back guarantee to buyers that you will do those two things, we must be able to confirm that information in the event a buyer attempts to dispute a transaction.

While uncommon, there is a risk that a credit card company might close your account. This often happens when users try to list too many buyers as an Authorized User on a card at one time. For this reason, we recommend keeping the number of AU slots that yhou make available to 1.

Yes…but probably not right away. It takes a few years of continuous responsible credit card payments for a card to have "value" to a buyer. During those first few years, you will want to work on making sure that all of your payments are made on time while increasing the credit limit associated with that card. Also, many companies in the tradeline space work with a limited list of card issuers (Citibank, JPMorgan Chase, Barclay's, Capital One, Bank of America, and Discover) because of their consistency in reporting tradeline data for authorized users.

Not yet! But we will be adding one. If you are interested in receiving a communication from us when we launch our affiliate program, please put your name on our waiting list.