I'm curious how this works for the AU. When does the new account show on their report? Is it when the card's statement closes?
Yes, after the statement closes.
Those of you who are enrolled, what kind of activity are you getting? I've been in it a month and a half and only one TL sold. They say the summer is slower, but do you ever get a lot of action?
See (lots of) earlier discussion in the thread on this. :) One tradeline of your two available slots isn't bad (remember, you'll only see orders right before the closing date, as they queue them up), unless you enrolled 10 cards or something.
Yes, it will pick up. Give it a few months to evaluate, and (either way), keep in mind the amount of work, even if you only make a few extra thousand this year, hard to complain--most side-gigs don't make that, and take way more time. :)
I've been thinking about this. I also work at a bank. The biggest risk I see (practically, and not considering the ethics) is the trade line's owner being tied to someone who has their loan go belly up down the road. For example, someone wants to get a mortgage and uses your credit. People also need to rely on personal credit for commercial loans, which can range in the millions of dollars. The AU game inflates their score from 650 to 750. They qualify based on that. They later go broke and someone does some digging and notices that person was attached to another account. The lending institution sues you because it caused them to grant a loan when they normally wouldn't. It's a little far fetched, but seems in the realm. Probably very unlikely to happen, nonetheless.
The essential question that would be nice to know is: when the bank or whoever pulls a credit report, is the trade line owner's information also attached to the account? Is it just the card number or only part of the card number? You could obviously trace with a full card number. I just wonder if the company utilizing the information would be able to tie that back to someone. Even assuming that "worst case" scenario, it's hard to imagine how a lawsuit could be developed "with the intent to defraud" from a trade line seller. Of course I'm filling out my paperwork now so maybe I'm biased.
I need to remember to look at a credit report this week and see if there's any identifiable information on it.
Yes, I see your point. No, the entire account number is not listed on the credit report. The address can be. There's no intent to defraud, IMO. If they store credit reports, and they look back at it (I can't even imagine this part of the scenario as plausible), they'll see the person as an authorized user on a card. What does that tell them? They are an authorized user on that card, or legally were at the time the credit was pulled. Maybe they'd have a case arguing FICO scores (that allowed a boost via an AU) are misleading, but again, don't see how that'd affect you. IDK, it all seems like a crazy stretch to happen, and even if it happened, not worrisome to me. Of course, like I mentioned before, everyone has their own levels of worry, and if this seems like something that's not only plausible to you, but makes sense if it happened, don't sell your tradelines. :)
As a poor car analogy: I also wouldn't have a problem renting out my car to people. Someone might say "a bank robber is more likely to rent a car than use their own, so what if you get arrested for facilitating bank robbery?" I would say that 1) It's super unlikely to happen (that one of the people renting my car for a day robs a bank), and 2) Even if it did, I had no intent to rob banks, or know about their plans to do so.
So in the super unlikely event it did happen (fraud), and someone looked at me, I have no intent or connection to that crime other than incidental. YMMV, but that's how I view it. :)